Bangalore, India-based fintech firm MoneyView raised USD 75 million in its ongoing Series E financing. The round took place on December 26, 2022. UK-based asset manager Apis Partners led the funding for the firm. Meanwhile, existing investors Tiger Global, Winter Capital, and Evolvence joined in the financing.
The recent funding values the fintech firm at USD 900 million approximately.
Purpose of financing for MoneyView
With the recent financing, Money View plans to invest funds as growth capital. It aims to scale the core credit business further. Besides, the company seeks to grow the team.
Moreover, MoneyView has plans to expand its product portfolio with services such as digital bank accounts, insurance, and wealth management solutions to solidify its leadership position.
Earlier in March 2022, the company raised USD 75 million in Series D funding. The company back then had a valuation of USD 625 million.
What the co-founder of the company has to say
Co-founder and CEO Puneet Agarwal said, “Our performance and growth over the past two years has allowed us to drive our mission of true financial inclusion in India with great success.”
What the lead investor has to comment
Matteo Stefanel, Co-founder and Managing Partner at Apis Partners further added, “Money View has achieved great success already, with their credit products democratising the access for millions of customers in India, and we are truly excited to partner with the company at this stage of its journey.”
About the company
Puneet Agarwal and Sanjay Aggarwal launched the company in 2014. The firm is an online financial services platform providing personalised credit products and personal financial management solutions. Money View offers various kinds of credit products, such as instant personal loans, cards, BNPL and personal financial management solutions. The firm enjoys partnerships with more than 15 financial institutions to offer these products.
The firm is operating at an annualised disbursal run rate of USD 1.2 billion. Currently, the Bangalore-based fintech company is managing Assets Under Management (AUM) of more than USD 800 million. Since its inception, the firm has been unit economic positive. Moreover, it has been profitable for the past two years.
Apis previously invested in the likes of online payment service providers, such as Cashfree; crowdfunding platform Impact Guru; non-bank finance company Hero FinCorp; and health insurer Star Health in India.
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