Consumer lending platform Moneyview has achieved unicorn status following a new funding round led by existing investors Accel India and Nexus Ventures.
As per regulatory filings from the Registrar of Companies (RoC), Moneyview’s board has approved a special resolution to issue 60,23,382 equity shares at a price of Rs 64.15 each, raising Rs 38.64 crore (around $4.65 million). Accel India contributed Rs 29 crore, while Nexus Ventures invested Rs 19 crore. The round appears to be ongoing, with the potential for additional capital in the coming months.
According to startup intelligence platform TheKredible, Moneyview’s valuation now stands at approximately Rs 10,086 crore or $1.2 billion (post-allotment). Previously, the company was valued at $900 million after securing $75 million in a December 2022 funding round led by Tiger Global.
In July, Entrackr reported that Moneyview was in the process of raising $50-60 million in a new round, and on September 2, the company was reportedly set to raise $30 million in debt via private placements.
On Thursday, Moneyview announced its acquisition of Jify.co, a platform allowing employees to access earnings on demand. This acquisition aims to enhance Moneyview’s financial services portfolio and expand Jify’s reach to more employees and organizations.
Despite these developments, Moneyview has not publicly commented on its unicorn valuation.
Founded ten years ago, Moneyview specializes in personal and home loans, credit cards, credit scores, motor insurance, and loans against property. It also offers credit through its own NBFC, Whizdm Finance, and claims to have disbursed Rs 12,000 crore in loans to date.
The company’s revenue from operations increased 2.6 times to Rs 577 crore in FY23, while profits surged 27 times to Rs 163 crore during the same period. For FY24, Moneyview’s profit before tax reached Rs 175 crore, according to internal documents accessed by Entrackr.
Accel holds the largest external stake in Moneyview with 22.28%, followed by Tiger Global at 12%, as of the Series E round.
In 2024, six Bengaluru-based startups, including Moneyview, Krutrim, Perfios, Porter, Rapido, and Ather, joined the unicorn club. For a complete cap table, check TheKredible.