Plans to fund AUM growth and branch expansion
Moneyboxx Finance raised equity capital of Rs 14.41 crores by way of private placement from non-promoter investors.The Company has strengthened its capital position with this fund raise and plans to use the funds for expanding its scale of operations and tap growth opportunities given the huge unmet credit gap for micro enterprise. The Company's AUM will cross Rs 100 crore in January 2022, supported by growing business at existing branches, and the fund raise would further augment AUM expansion by additional Rs 75 crore.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU