India, August 11, 2025 – Moneyboxx Finance Ltd, a BSE-listed NBFC focused on transforming credit access for underserved small and micro enterprises in semi-urban and rural India, has announced the appointment of Vivek Meharwal as Chief Business Officer. In this role, he will be responsible for accelerating the growth of the secured loan portfolio and enhancing overall operational efficiency.

Vivek Meharwal joins Moneyboxx with over 21 years of experience across the lending industry. He brings deep domain expertise in credit strategy, business development, product innovation, and portfolio growth management at scale. He was previously the Chief Business Officer at Altum Credo Home Finance and had stints at Avanse Financial Services, Religare, GE Money, and ICICI Home Finance before.

Welcoming him to the company, Mr. Mayur Modi, Co-Founder and Co-CEO, Moneyboxx Finance Limited said, “We are excited to welcome Vivek Meharwal on board as Chief Business Officer. His comprehensive experience in credit management, new business architecture, and product-level growth will play a crucial role in strengthening our expansion strategies. As we deepen our outreach across underserved regions, his leadership will help us deliver sustainable growth with strong portfolio quality, aligned with our mission of empowering grassroots entrepreneurs through responsible lending.”

Commenting on his new role, Mr. Vivek Meharwal, Chief Business Officer, Moneyboxx Finance Limited said, “I am thrilled to join Moneyboxx Finance at such a pivotal time in the journey. The company’s mission of enhancing financial inclusion resonates deeply with my growth objectives. I look forward to leading business strategy and execution that enhances our product offerings, strengthens credit delivery, and drives sustainable impact across rural and semi-urban India”

This leadership appointment comes at a time when Moneyboxx Finance is witnessing strong business momentum. As of Mar’25, the company reported a 27% year-on-year growth in Assets Under Management (AUM), alongside an expanding physical footprint of 163 branches across 12 states, reflecting its continued focus on empowering underserved entrepreneurs and driving inclusive economic growth across semi-urban and rural India.

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Moneyboxx opened 6 branches in Andhra Pradesh – Vijayawada, Rajahmundry, Eluru, Kakinada, Guntur and Nellore; 5 branches in Karnataka – Tumkur, Ballari, Hubli, Mysore and Davanagere; 4 branches in Tamil Nadu – Hosur, Salem, Kanchipuram, and Ambur; 3 branches in Telangana – Khammam, Warangal and Karimnagar. Moneyboxx aims to have 25 branches in south India by the end of October 2024.

Moneyboxx has 141 branches as on September 29, 2024, and plans 156 branches across 12 states by the end of October 2024, up from 100 branches in 8 states as of March 2024, recording over 50% growth in the branch network. The recently concluded equity raise of INR 176 crore (of which INR 91 crore received in Sep’24 and the balance receivable within 18 months) will enable the addition of 43 branches to the branch network in the months of September and October 2024. The additional capital will further allow Moneyboxx to invest in technology and improve operational efficiencies, enabling it to solidify its position as a reliable financial partner for micro-entrepreneurs in underserved regions.

The Company is supported by 33 lenders, including prominent banks like State Bank of India, HDFC Bank and Kotak Mahindra Bank.

Moneyboxx has led the charge of driving financial inclusion in rural India by providing business loans to micro-entrepreneurs leading to a transformational change in their lives. With cumulative disbursements of over INR 1,300 crore up till June 2024, Moneyboxx has provided loans to over 1.6 lakh borrowers (including co-borrowers), of which 58% were women and 30% new-to-credit. The company’s strategic plan includes expanding its branch network to over 160 branches and achieving AUM of over INR 1,300 crore by March 2025 from INR 730 crore as of March 2024.

Commenting on the key milestone, Mr. Mayur Modi, Co-founder, Moneyboxx Finance Ltd, said, “We are excited about commencing operations in the states of Andhra Pradesh, Karnataka, Tamil Nadu and Telangana. The addition of 18 branches in south India 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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The company has received INR 91 crore, which includes INR 63 crore from preferential equity issue and INR 28 crore from warrants, and the balance INR 85 crore pursuant to warrants is receivable within 18 months. The net worth of the company stood at INR 174 crore as on 30^th June 2024, which has increased by over 50% by 31^st August 2024 and will double with the total equity raise of INR 176 crore. Over two-thirds of the fund raise has come from promoters and existing shareholders, demonstrating their confidence in the business model and growth prospects.

The fund raise puts the company in a strong position to achieve its target of over INR 2,500 crore AUM by FY26, and the company plans to keep raising capital going forward.

Moneyboxx Finance has led the charge of driving financial inclusion in rural India by providing much-needed business loans to micro-entrepreneurs. With cumulative disbursements of over INR 1,300 crore up till June 2024, Moneyboxx has provided loans to over 1.6 lakh borrowers (including co-borrowers), of which 58% were women and 30% new-to-credit. The company’s strategic plan includes expanding its branch network to over 160 branches and achieving AUM of over INR 1,300 crore by March 2025 from INR 730 crore as of March 2024. The company has further diversified its presence by opening branches in the southern states of India.

Commenting on the fund raise, Mr. 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.”

The company remains committed to fostering inclusive growth and creating sustainable livelihoods. The additional capital will also allow Moneyboxx Finance to invest in technology and improve operational efficiencies, further solidifying its position as a reliable financial partner for micro-entrepreneurs in underserved regions.

The Company is supported by 33 lenders, including prominent banks like State Bank of India, HDFC Bank and Kotak Mahindra Bank.

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