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The Company is supported by 33 lenders, including prominent banks like State Bank of India, HDFC Bank and Kotak Mahindra Bank.
Moneyboxx has led the charge of driving financial inclusion in rural India by providing business loans to micro-entrepreneurs leading to a transformational change in their lives. With cumulative disbursements of over INR 1,300 crore up till June 2024, Moneyboxx has provided loans to over 1.6 lakh borrowers (including co-borrowers), of which 58% were women and 30% new-to-credit. The company’s strategic plan includes expanding its branch network to over 160 branches and achieving AUM of over INR 1,300 crore by March 2025 from INR 730 crore as of March 2024.
Commenting on the key milestone, Mr. Mayur Modi, Co-founder, Moneyboxx Finance Ltd, said, “We are excited about commencing operations in the states of Andhra Pradesh, Karnataka, Tamil Nadu and Telangana. The addition of 18 branches in south India will enable us to enhance our outreach and impact in rural India, providing vital financial support to micro-entrepreneurs and contributing to their economic empowerment.”