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Moneyboxx Finance expands nationwide reach, nears Rs 1,200 crore AUM in empowering India’s micro-entrepreneurs

Economic Times

Economic Times · 4m ago

Moneyboxx Finance expands nationwide reach, nears Rs 1,200 crore AUM in empowering India’s micro-entrepreneurs

Moneyboxx Finance Limited, a non-banking financial company (NBFC), is expanding nationwide with an aim to reach Rs 1,200 crore in Assets Under Management by FY26. The company provides business loans ranging from Rs 1–25 lakh to support micro and small entrepreneurs. With over 160 branches across 12 states, Moneyboxx integrates AI and ML in its phygital model. The secured lending portfolio now constitutes 55% of total AUM.

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Moneyboxx Finance raises Rs 33.4 Cr in equity to accelerate growth

Entrackr

Entrackr · 13d ago

Moneyboxx Finance raises Rs 33.4 Cr in equity to accelerate growth

Moneyboxx Finance raises Rs 33.4 Cr in equity to accelerate growth Moneyboxx Finance, an NBFC focused on empowering underserved small and micro entrepreneurs in rural and semi-urban India, has raised Rs 33.4 crore through the allotment of equity shares. The fundraise strengthens the company’s capital base and positions it to accelerate its next phase of growth. A total of 44 lakh equity shares with a face value of Rs 10 each were allotted on a preferential basis at an issue price of Rs 76 per share, including a premium of Rs 66 per share. With this allotment, Moneyboxx Finance’s total equity capital raised since inception stands at Rs 303.9 crore, including this round. The proceeds will be used to expand branch presence across high-potential markets, support AUM growth, and further enhance technology-led underwriting and risk management systems. According to Moneyboxx, it has built a strong phygital model that combines deep on-ground distribution with data-driven credit assessment to deliver responsible, income-linked lending. The platform is focused on expanding its footprint while leveraging technology to enhance underwriting precision and operational efficiency. Moneyboxx Finance is a BSE-listed, RBI-registered Non-Systemically Important Non-Banking Financial Company (NBFC-ND-NSI) focused on providing small-ticket business loans (Rs 50,000–3,00,000) to micro and small enterprises in Tier-III and beyond cities. Launched in 2019 after acquiring Dhanuka Commercial, the company aims to drive financial inclusion for the “missing middle” in rural India, with around 160 branches across 12 states and a focus on essential segments.

Rural-focussed NBFC Moneyboxx Finance raises $21 mn

VCCircle

VCCircle · 1y ago

Rural-focussed NBFC Moneyboxx Finance raises $21 mn

Non-bank lender Moneyboxx Finance has raised $21 million in capital to support its growth plans. The company focuses on impact investing by providing business loans to micro entrepreneurs in rural areas. The fund raise puts Moneyboxx Finance in a position to achieve a target of over $335 million by 2025-26. The company plans to keep raising capital going forward and aims to enhance its outreach and impact in rural India. Moneyboxx Finance is supported by 33 lenders, including State Bank of India, HDFC Bank, and Kotak Mahindra Bank.

Veritas Finance picks bankers for ₹2,000-crore IPO

Livemint

Livemint · 1y ago

Veritas Finance picks bankers for ₹2,000-crore IPO

Veritas Finance, a Chennai-based lender, is reportedly planning to raise INR 2,000 crore (approximately $267 million) through an initial public offering (IPO). The company has appointed Kotak Mahindra Capital, Jefferies, HDFC, and ICICI Securities to manage the share issue. Veritas Finance aims to use the funds to expand its reach in serving India's micro, small, and medium enterprises (MSMEs). The company had previously secured INR 1,200 crore in equity funding last year. Veritas Finance competes with other lenders like Shriram Finance, Bajaj Finserv, Equitas Small Finance Bank, and Lendingkart.

Moneyboxx To Raise INR 176 Cr To Expand Its Lending Play

Inc42 · 1y ago

Moneyboxx To Raise INR 176 Cr To Expand Its Lending Play

A startup has received INR 91 Cr as part of a deal, with INR 63 Cr from preferential equity issue and INR 28 Cr from warrants. The startup expects to receive the remaining INR 85 Cr under warrants within 18 months. Moneyboxx plans to use these funds to invest in technology and improve its operations, aiming to become a reliable financial partner for micro-entrepreneurs in underserved regions.

Tide targets India’s micro-businesses with digital platform play

Economic Times

Economic Times · 6m ago

Tide targets India’s micro-businesses with digital platform play

Tide, a UK-based digital financial platform, is expanding its focus on India’s micro and small businesses, positioning itself as a digital solution for entrepreneurs without finance teams. With partnerships like Transcorp, Tide offers various services, including payments, accounting, and micro-insurance, particularly targeting businesses shifting from cash to digital. The company emphasizes serving small enterprises, avoiding consumer banking, and continues to explore opportunities in India's rapidly formalizing economy while leveraging India-UK economic ties.

Symbiotics leads $18 Mn debt round in Dugar Finance

Entrackr

Entrackr · 2m ago

Symbiotics leads $18 Mn debt round in Dugar Finance

Symbiotics leads $18 Mn debt round in Dugar Finance Dugar Finance, an impact-led secured MSME lender, has raised $18 million (about Rs 160 crore) in a debt funding round led by Swiss-based investor Symbiotics, with participation from leading Indian banks including Union Bank of India, Karur Vysya Bank, Indian Overseas Bank, Tamilnad Mercantile Bank, and STCI Finance among others. Symbiotics contributed $5.5 million in this round. It had previously raised $3 million in debt from the $75-million Green Basket Bond issued by Symbiotics Investments back in June this year. The fresh funds will be allocated to strengthen its secured MSME lending and support its expansion into Tier-2 to Tier-6 markets across India, Dugar Finance said in a press release. Led by Ramesh Dugar, Dugar Finance is an impact-focused, non-deposit-taking NBFC operating across multiple states in India with a strong presence in tier 3 and tier 4 markets. The company specializes in secured MSME and commercial vehicle financing aimed at income generation, supporting micro-entrepreneurs, small businesses, and first-time commercial vehicle drivers who remain underserved by formal credit. Dugar Finance focuses on disciplined underwriting, strong governance, and prudent risk management, and it aims to continue to deepen its institutional lender relationships. It is emphasized on building a resilient, scalable lending platform designed to support long-term economic activity in India’s growth corridors. The Chennai-based company currently operates across six states, serving semi-urban and rural customers. Its portfolio includes income-generating secured MSME loans and commercial vehicle loans, supporting micro-entrepreneurs, small businesses, and first-time commercial vehicle drivers. It aims to scale more than 75 branches and Rs 600 crore AUM by FY27 and Rs 2,000 crore AUM by FY29, while maintaining its strong financial performance, including an RoA of above 4% and Gross NPAs below 2%.

UGRO Capital Appoints Anuj Pandey as CEO to Lead MSME Lending Strategy

StartupTalky

StartupTalky · 8m ago

UGRO Capital Appoints Anuj Pandey as CEO to Lead MSME Lending Strategy

UGRO Capital, a DataTech NBFC specializing in MSME lending, has appointed Anuj Pandey as its CEO. Previously Chief Risk Officer and a founding team member, Pandey will oversee UGRO's nationwide MSME operations. This change follows UGRO reaching ₹12,000 crore AUM, acquiring Profectus Capital, and securing significant capital. Anuj Pandey’s leadership is expected to drive UGRO's growth, emphasizing expanding MSME reach and embedded finance. Founding CEO Shachindra Nath will focus on strategic and governance aspects.

Aye Finance expects 55% growth in AUM this year, eyes IPO in FY26

Livemint

Livemint · 2y ago

Aye Finance expects 55% growth in AUM this year, eyes IPO in FY26

Fintech startup Aye Finance is expecting its assets under management (AUM) to reach ₹4,200 crore by the end of 2022 and ₹5,500 crore by FY2024-25. The company is considering an IPO in FY2026. Aye Finance has maintained cautious, selective funding to achieve a 50% annualized growth rate. It has served over 800,000 micro enterprises and disbursed 275,000 new loans this year. The company's net profit during the April-December period was ₹125 crore, and it expects a full-year profit of around ₹160 crore.

Microlender CreditAccess Grameen secures $50 mn from IFC

VCCircle

VCCircle · 1y ago

Microlender CreditAccess Grameen secures $50 mn from IFC

CreditAccess Grameen, India's largest microfinance institution, secured $50 million from the International Finance Corporation (IFC) to support its operations and provide finance to women micro-entrepreneurs in agriculture. The Bengaluru-based firm will use the funding to reach 3-4 million more borrowers and diversify its liability profile. Despite a recent financial loss and increased non-performing assets, the company aims for 25-30% of funds from foreign sources by 2028.

Kinara Capital gasps for breath as GNPA nears COVID level, AUM shrinks on firefighting

VCCircle

VCCircle · 1y ago

Kinara Capital gasps for breath as GNPA nears COVID level, AUM shrinks on firefighting

Kinara Capital, a micro, small, and medium enterprise (MSME)-focused lender, is facing challenges as its gross non-performing asset (GNPA) ratio approaches COVID levels. The Gaja Capital-backed company has experienced a decline in assets under management (AUM) as it grapples with the impact of the ongoing COVID-19 crisis. This follows a period of strong AUM growth in the previous financial year. Kinara Capital is among the many lenders facing asset quality stress in the unsecured business loan segment due to the current economic conditions.

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