Moneyboxx is a lending tech startup that announced its plan to raise $32.4 million through equity and  warrants. The company plans to use these fresh proceeds to scale its operations, fuel its growth,  enhance its platform for better user experience, and expand its network in rural India. The startup  provides small-ticket business loans to micro and small companies in tier-III cities and lower. The  platform uses cutting-edge technologies to allow a seamless experience for users while processing  transactions. 

The exchange filing mentioned that the board approved a special resolution to grant up to 52,45,736  equity shares at an issue price of Rs 302.2 per share to raise Rs 158.52. The startup also approved  another resolution to grant up to 37,37,745 warrants that are convertible into an equal number of  equity shares with an issue price of Rs 302.2 per share to raise Rs 112.95 crore. The firm plans to use  the investment to expand its MSME lending platform and strengthen its brand presence while gaining  the trust of its customers. The company wants to provide affordable loans to its customers with lower  interest rates through its online platform.  

The co-founder of Moneyboxx, Deepak Aggarwal mentioned that this funding will help the startup to  enhance its services and spread its network across rural India. The investment will enable the firm to  offer support to small businesses and contribute to their economic empowerment. The firm focuses  on becoming a secure, trustable, and convenient loan lending platform across the country. Moneyboxx  offers a platform that facilitates loaning transactions between small and medium entrepreneurs and  NBFCs or banks and provides other financial requirements. The application offers customized loans to  micro businesses across sectors.  

The firm mentioned that around 59 percent of the borrowers across the platform are women. The  startup provides loans up to Rs 10 lakh to micro and medium entrepreneurs that can help them across  different sectors. This new investment will enable the startup to scale its operations and improve  lending solutions across rural India. The company plans to strengthen its market presence and increase  its operations. This non-banking finance company operates 107 branches across 8 states.  

Conclusion: 

Moneyboxx is a loan lending tech startup that plans to raise $32.4 million through equity and warrants.  The firm announced a special resolution to grant up to 52,45,736 equity shares on the preferential  issue to raise Rs 158.52 crore. The startup intends to use this fresh capital to fuel its growth, help  MSMEs get loans securely, and scale its operations while expanding in rural India. The startup has  provided loans worth Rs 1,200 crore to more than 1.5 lakh customers through its online platform.  Moneyboxx plans to launch over 160 branches to achieve an AUM worth Rs 1,400 crore by the next  year. The startup competes with other lending platforms Stash, Changed, and Spenny. The platform  uses advanced technologies to offer a seamless experience to its users.