The company is also set to open a branch in Bhopal by the end of July 2022 and with that, it will have 12 branches in Madhya Pradesh. The move is in line with the company’s focus to tap potential regions and cater to unmet credit needs of customers from smaller cities and towns in India.
Until now, Moneyboxx has transformed the lives of more than 15,000 borrowers out of which about onethird were women entrepreneurs and one-third were first-time borrowers with cumulative disbursements of over Rs230 crore up to June’22.
Commenting on the recent branch expansion, Mayur Modi, Co-founder, Moneyboxx Finance Ltd said, “Expansion of branches in Madhya Pradesh is a testament to our commitment to provide credit services to the underserved section of borrowers in tier-3 markets. This is yet another step forward in furthering our reach and the commitment toward small businesses to enable financial inclusion.
As the markets in Madhya Pradesh continue witnessing rapid growth on the back of small businesses, we will help borrowers to avail of both secured and unsecured business loans and try to bridge the currently existing credit gap. We will continuously leverage our robust and highly scalable business model, powered by digital process and risk analytics, to expand our presence and financial inclusion drive.”
Moneyboxx has a total of 35-branch network in five states – Rajasthan, Punjab, Haryana, Madhya Pradesh, and Uttar Pradesh. The company plans to strengthen its presence and customer reach by doubling its branch network to 60 and building AUM of over INR 400 crores by FY23.
At around 3:15 PM, Moneyboxx Finance was trading at Rs144.95 per share higher by 2.01% on the BSE.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.