Bengaluru-based lender Moneyview has reportedly become India’s newest lender. unicorn launched after raising funding at a valuation of $1.2 billion.
While there has been no official confirmation from the company, a report by Entrackr suggests that the startup has secured funding from existing investors Accel India and Nexus Ventures.
Who invested how much?
According to the report, Accel India contributed Rs 29 crore, while Nexus Ventures added Rs 19 crore. The funding round is still ongoing and Moneyview is likely to raise more funds in the coming months.
In December 2022, Moneyview achieved a Soonicorn state after it was raised $75 million on a $900 million valuationThat round was led by Winter Capital, US-based Tiger Global Management, Evolvence India Fund and Apis Partners.
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Who are the founders?
Puneet Agarwal and Sanjay Aggarwal founded Moneyview in 2014. The startup offers personalized credit products such as instant personal loans and personal financial management solutions.
It has partnered with NBFCs including Whizdm Finance, Aditya Birla Capital, DMI Finance, Clix, Incred Finance, Northern Arc, Vivriti Capital, IDFC First Bank and Oxyzo, among others.
Moneyview Financial Performance
For FY23, Moneyview reported a 160% growth in its operating revenue from Rs 222 crore in FY22 to Rs 577 crore.
Even more impressive is the fact that startup profit increased by 2,616% from Rs 6 crore in FY22 to Rs 16.3 crore in FY23. Its pre-tax profit reportedly stood at Rs 17.5 crore in FY24.
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