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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First Published: Jul 18 2024 | 5:48 PM IST