NBFC Moneyboxx Finance on Friday said it has secured a Rs 20 crore term loan from Maanaveeya Development & Finance, and the funds will be used for onward lending to micro entrepreneurs. Maanaveeya is an Indian subsidiary of Oikocredit. Moneyboxx is supported by 24 lenders, including SBI, IDFC First Bank, DCB Bank, AU SFB, and has raised cumulative debt of close to Rs 400 crore. With planned equity raise and continuous support from lenders and co-lending partnerships, the company is targeting asset under management (AUM) of Rs 1,000 crore by 2023-24 from current AUM of Rs 290 crore as of February 2023, it said in a release. "The loan from Maanaveeya will help boost our efforts in fostering fi
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