Non-banking platform Moneyboxx Finance raises Rs 10 Cr debt funding from Eclear

BSE-listed Non-Banking Finance Company Moneyboxx Finance Ltd (MBFL) has secured debt of Rs 10Cr from Eclear Leasing & Finance Pvt Ltd to support its disbursement target of Rs 80-85 crore in the current fiscal.

Commenting on the debt raised by the company, Deepak Aggarwal, Co-founder, Moneyboxx Finance Ltd, said,“Since our inception, Eclear Leasing & Finance has been extremely supportive and we are indeed thankful to them, and also its top management including Manoj Bansal, for their continued support and trust that they have reposed in us. This will go a long way in helping us achieve our target of disbursing Rs 80-85 crore during FY21, which will close to 2.5 times of the disbursement made during FY20 that stood at Rs 34 crore.”

Monryboxx provides small-ticket loans to micro and small enterprises in Tier-II and Tier-III towns, and has 11 branches spread across four states — Punjab, Haryana, Rajasthan, and Madhya Pradesh. The company further plans to open 11 new branches in the next two months in these states.

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