Bangalore, India-based online lending platform Money View raised USD 75 million on March 9, 2022. The Series D round saw participation from both the existing and the new investors.
Moscow-based Winter Capital and Evolvence India joined on-board as Money View’s new investors. The existing investors, i.e. Tiger Global and Accel, also invested in the Series D round. Other investors, including South Park Commons, Trusted Insight, and Dream Incubator, participated in the current round.
Currently, the company is valued at USD 625 million.
Money View’s Purpose for Funding-
The company intends to use the funds as growth capital. The company also seeks to expand its core credit business and its product portfolio.
Besides, services like digital banks accounts, insurance, and wealth management solutions will be provided by the fintech startup.
The firm shall see a surge in its team size. Raine Group served as the company’s financial advisor for this round of funding.
Previously, it raised funds in December 2018, with Accel leading the round. Over the years, Money View has grown four times. Moreover, it is on track to achieve profitability. It disburses loans at an annualised run rate of USD 700 million. The fintech startup seeks to touch USD 1 billion in Assets Under Management (AUM) in the coming 12 months.
About Money View
IIT Delhi alumni Puneet Agarwal and Sanjay Aggarwal brought Money View into existence in 2014. Whizdm Innovations Pvt Ltd operates it. The online lending platform provides personalised loans and buy-now-pay-later (BNPL) products to its consumers.
Besides, they offer personal financial management solutions to end consumers. In order to cater for its credit/ financial offerings, Money View is in partnership with over fifteen financial institutions.
So far, Money View has over a million downloads every month. They serve 200 million customers. 75% of the customer base comes from tier-II and tier-III cities.
Under its proprietary data models, the company enables credit for underserved segments via its 360-degree risk assessment. Money View’s robust technology and frictionless user interface allow it to enjoy PAN India’s reach.
Puneet Agarwal is an investor for early-age startups. He previously worked at Madura Micro Finance and Google.
Besides co-founding Money View, Sanjay Aggarwal founded minglebox.com in 2006. He has worked for Yahoo and Ciena Corporation.
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