Moneyboxx plans to double its workforce by 2023

It also intends to upgrade technical capabilities and provide on-ground assistance to its customers

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Moneyboxx Finance or Moneyboxx, an NBFC that provides small ticket-based loans to micro and macro businesses has announced that it’ll hire 300 new employees by the end of FY 2023.

Presently, it has an employee headcount of 300. The Company will hire employees at entry and mid-levels in sales, credit risk management and select important roles in IT. With the addition of new employees, its sales and credit risks will grow to twice the current size.

The new employees will work to meet the growing demands of individual borrowers to provide small-ticket business loans and build smooth delivery. Moneyboxx is also aiming to reach

an AUM of INR400 crores by FY2023 from about INR120 crores (FY2022, projected) so that it can keep up with the increasing customer demand, continue branch expansion efforts and augment its portfolio for diverse technologies.

Mayur Modi, co-founder, Moneyboxx Finance, said that the Company’s customer growth has led to an increase in demand for full-stack technological and service offerings.

“We are seeking experienced professionals across functions and branches for seamless service delivery to customers. Functioning via an entirely digital process, risk analytics and solid branch unit economics with low capex and operating costs, our business model will catalyse efforts to boost the workforce,” he explained.

Moneyboxx has 30 branches, and operates across Rajasthan, Punjab, Haryana, Madhya Pradesh and Uttar Pradesh. It’s medium-term aim is to build an INR1,000 crore asset management (AUM) in the next three years. Recently, it crossed the INR100 crore AUM and is planning to reach the figure of INR400 crore by FY2023, with its primary focus on essential sectors and services.

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