Moneyboxx Finance raises Rs 33 crore in equity to boost growth
05 Mar 2026, 12:43 PMThe capital raise will enable the lender to grow presence in high-potential markets, among others.
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Non-deposit taking non-banking finance corporation (NBFC) Moneyboxx Finance has raised Rs 33.4 crore in equity shares issued to promoters and existing shareholders.
It issued 44 lakh equity shares of face value Rs 10 at an issue price of Rs 76 per share.
The capital raise will enable the lender to grow presence in high-potential markets, boost assets under management, and improve its tech-based underwriting and risk management systems.
Moneyboxx was founded in 2019 by chartered accountants (CA) Mayur Modi and Deepak Aggarwal, each bringing with them more than 20 years of finance industry experience. Modi previously served as an Associate Director at HSBC, and also held roles at GE Capital and JP Morgan. Aggarwal was previously associated with Bank of America, KPMG, GE Capital and Infosys. He also founded Avancer Capital Partners.
The Mumbai-based NBFC provides small business loans to micro and small entrepreneurs in Tier 3 cities and beyond, with the aim of expanding financial inclusion in semi-urban and rural India. It provides secured and unsecured business loans ranging from Rs 1 lakh to Rs 25 lakh.
The listed company focuses on three customer segments that include women entrepreneurs, livestock rearing communities and new-to-credit borrowers, according to its website. It has more than 150 branches across 12 states.
The micro-credit lender is categorized by the RBI as a non-systemically important NBFC (NBFC-ND-NSI), which refers to non-deposit taking NBFCs with an asset size less than Rs 500 crore. Such NBFCs are liable to lighter regulatory and compliance requirements.
“This equity infusion of ₹33.4 crore reinforced confidence in our model and strengthened our ability to drive responsible financial inclusion at scale. We remain focused on expanding our footprint while leveraging technology to enhance underwriting precision and operational efficiency," said Mr. Deepak Aggarwal, co-founder and co-CEO, Moneyboxx Finance.
The recent fundraise brings the company's total equity capital to Rs 303.9 crore. It had previously raised Rs 271 crore in equity shares in July 2024.
Last week, micro small and medium enterprises (MSME) financing NBFC Prayaan Capital had raised Rs 110 crore in series A funding from Peak XV Partners.
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