Moneyboxx, a fintech startup focused on empowering micro-entrepreneurs in underserved regions, has secured INR 91 crore as part of a larger funding round of INR 176 crore. The company raised INR 63 crore through a preferential equity issue and an additional INR 28 crore via warrants. The remaining INR 85 crore is expected to be raised through warrants over the next 18 months.
The fresh capital will be utilized to strengthen Moneyboxx’s technological infrastructure and optimize its operations, enabling the company to position itself as a trusted financial partner for small business owners in regions with limited access to formal credit. The fintech startup is committed to expanding its reach and improving its lending capacity to better serve micro-entrepreneurs.
With the newly raised funds, Moneyboxx plans to enhance operational efficiency and improve the customer experience through investments in advanced technology solutions. This initiative aligns with the company’s strategic focus on offering tailored financial products designed to meet the specific needs of small businesses in underserved markets.
Summary:
- Moneyboxx raised INR 91 crore as part of a larger INR 176 crore funding round, with plans to raise the remaining INR 85 crore through warrants in the next 18 months.
- The funds will be used to enhance technology infrastructure and optimize operations, supporting micro-entrepreneurs in underserved regions.
- The fintech aims to expand its reach and improve its lending capabilities, leveraging the capital infusion to better serve small businesses with tailored financial solutions.