Private placements are bringing in debt worth Rs 250 crore, or roughly $30 million, for the lending platform Moneyview. For the company based in Bengaluru, this will be the first significant debt round in the previous three years.
A special resolution has been passed by the board Moneyview to issue non-convertible debentures up to Rs 250 crore, as per internal documents that the Registrar of Companies provided to the media.
The documents state that the debt infusion will be used for general corporate purposes, working capital, and growth.
Moneyview is in the process of raising $50–60 million, and they are about to become members of the exclusive unicorn club. New investors will join current ones like Apis Partners, Accel Partners, and Evolvence India in this funding round.
With the help of Apis Partners, the company backed by Tiger Global has raised approximately $190 million so far, including a $75 million Series E round. In its most recent equity round, the company was valued at $900 million.
As of the most recent funding round, Accel held 22.28% of the company’s equity, followed by Tiger Global, which held 12%, according to media. Together, co-founders Puneet and Sanjay Agarwal control 24% of the company’s equity. Other well-known investors in Moneyview include Evolvence, Winter Capital, Apis Partners, and Ribbit Capital.
Moneyview was established in 2014 and specializes in auto insurance, credit cards, credit score viewing, personal and home loans, and loans secured by real estate. In addition to third parties, the company extends credit via Whizdm Finance, its own NBFC. During its ten-year journey, it claims to have disbursed loans worth Rs. 1,2000 crores.
