Moneyboxx Finance to raise Rs 271 cr via equity issuance

Moneyboxx Finance announced equity fund raise of Rs 271 crore in its board meeting held on 17 July 2024. The capital raise includes Rs 158 crore through preferential equity issue and Rs 113 crore through equity warrants to both Promoters and Non-Promoters.

The fund raise will significantly strengthen the company's capital position and support its growth plans. Out of the total equity capital raise, Rs 186 crore is to be infused by August 2024, which will more than double the company's existing capital base to Rs 350 crore.

Commenting on the fund raise, Deepak Aggarwal, Co-founder, Moneyboxx Finance Ltd, said, We are excited about the strong support from our investors, which highlights their confidence in our business model and growth prospects. This fresh capital 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.

 

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