Moneyboxx and AllCloud have joined hands to develop a scalable digital lending solution for MSMEs and micro-entrepreneurs of India. Moneyboxx provides business loans to small and medium enterprises in India and due to AllCloud's speedy deployment, these offering will be enhanced and scaled with new features in the coming months.

"We were impressed by the young team led by Rahul and Ankith and the fully integrated technology offering by AllCloud after evaluating multiple technology partners. The agile and cloud-native solution will not only help us in scaling our multiple products offering to micro-entrepreneurs across locations but will also help us provide a seamless and fully digital experience to our customers"

Mayur Modi, Co-founder, Moneyboxx Finance Ltd

Moneyboxx was founded to cater to highly underserved credit needs of micro and small enterprises in Tier-III and below places. With 23 branches spread across five states, Moneyboxx aims to increase financial inclusion across these enterprises.

Moneyboxx aims to drive financial inclusion through lending to MSME customers who are still not part of the organized financial system. Moneyboxx provides loans to the MFI+ segment i.e., individuals graduating from group borrowing to individual borrowings. Given the huge untapped market and need to achieve such a scale, Moneyboxx required a lending technology that could minimize their acquisition cost and simultaneously help scale to new cities and customers.

Moneyboxx examined the wider lending technology market to find the most flexible, scalable, and secure solution. In particular, the lender prioritized a configurable SaaS technology platform designed for easy implementation and fast deployment. Moneyboxx chose AllCloud's lending technology – ACE (AutoCloud Enterprise) and following 5 months of implementation, successfully launched their credit products on the platform.

Ankith Khadloya Director and Co-founder of AllCloud, added: "Moneyboxx is pioneering digital lending to MSMEs in India and catering to a wider underserved market. AllCloud has implemented AutoCloud, a robust lending solution that will simplify onboarding and disbursement for micro, small and medium enterprises, enabling Moneyboxx to extend swifter credit to their customers. This will be a true game-changer for the unorganized and underserved credit market for MSME and we cannot wait to see the impact of Moneyboxx's offering technology will have on the market.

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