Wednesday, June 19, 2024
English English French Spanish Italian Korean Japanese Russian Hindi Chinese (Simplified)

Fintech company Money View announced on Monday that it has raised $75 million in its ongoing Series E funding round. The round was led by UK-based asset manager Apis Partners and also saw participation from Tiger Global, Winter Capital, and Evolvence. The company, which is operated by WhizDM Innovations Pvt Ltd, is now valued at $900 million.

Money View, which was founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, offers personalized credit products such as instant personal loans, cards, BNPL, and personal financial management solutions. It has over 40 million app downloads and claims to be operating at an annualized disbursal run rate of $1.2 billion. The company has also been unit economic positive since its inception and has been profitable for the past two years.

According to a press release, the proceeds from the funding round will be used to scale the core credit business, grow the team, and expand the product portfolio with services such as digital bank accounts, insurance, and wealth management solutions. In FY22, the company saw strong business growth with a four-fold increase in revenue to Rs 253 crore. It posted a profit of Rs 17.7 crore in the last fiscal, compared to a loss of Rs 46.8 crore in FY21. Money View competes with companies such as KreditBee and Navi, which is led by Sachin Bansal and is preparing for its initial public offering.

Subscribe

* indicates required

The Enterprise is an online business news portal that offers extensive reportage of corporate, economic, financial, market, and technology news from around the world. Visit to explore daily national, international & business news, track market movements, and read succinct coverage of significant events. The Enterprise is also your reach vehicle to connect with, and read about senior business executives.

Address: 150th Ct NE, Redmond, WA 98052-4166

©2024 The Enterprise – All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept