Moneyboxx Finance aims to increase its assets under management (AUMs) to Rs 2,000 crore by 2025-26 (April-March) by expanding its branch network, geographical presence and product line, co-founder and co-chief executive officer Mayur Modi said. As far as the current fiscal is concerned, the NBFC aims to hit Rs 350-crore AUMs. Currently, its assets stand at over Rs 200 crore.
The BSE-listed non-bank lender provides small-ticket business loans to micro and small enterprises in tier-III towns and below. The ticket size of these loans is Rs 1-7 lakh and the tenure is between three months and six months.
A majority of the non-bank lender’s portfolio consists of unsecured loans, which are below Rs 3 lakh in value.
From April-June, the NBFC has started disbursing secured loans and quasi-secured loans, which have a ticket size of above Rs 3 lakh. A majority of these secured loans are borrowed against residential mortgage.
“Typically, on a month-on-month basis, we are adding 5-7% to the secured book. Roughly, we want to take it to 20-25% (of the overall loan book) in the next 18 months,” Modi said.
Apart from loans, Moneyboxx Finance is ramping up its technological capabilities in a bid to sell savings-oriented financial products. “At some stage in the next 3-5 years, the vision is to not only become a full-suite financial intermediary for borrowers in terms of offering a loan product, which is the main bread and butter, but also start delivering on both savings and insurance products,” Modi said.