Tech lending platform Moneyview to raise funds in Series F round, to turn unicorn
According to two people with knowledge of the ongoing discussions, Bengaluru-based Moneyview, a tech-enabled lending platform, is expected to become a unicorn as the company nears completion of a fresh round of funding from both new and existing investors.
In December 2022, the company raised $75 million under the leadership of Apis Partners.
“Moneyview is in late stage talks to raise $50-60 million in Series F round,” said one of the sources requesting anonymity as talks are private. “New backers along with existing Apis Partners, Accel Partners and Evolvence India will participate in this round.”
According to sources, Moneyview will surpass the $1 billion valuation mark as the terms of the deal are negotiated in their final leg.
With its most recent fundraise, Moneyview raised about $190 million (Rs 1,563 crore) and was estimated to be worth about $900 million (Rs 7,300 crore). The business raised $75 million in each of the two rounds of funding (Series D and E) in March and December of 2022.
Moneyview would be this year’s third unicorn if the deal closes. 2024 saw the unicorn club joined by Krutrim SI Designs and Perfios.
Established by Puneet and Sanjay Aggarwal, Moneyview specializes in home and personal loans from third-party lenders. It provides loans secured by property, credit cards, and the ability to view credit scores.
According to the sources cited, the company’s profitability and growth momentum have drawn both new and current investors. Although the company has not yet released its FY24 financial figures, MoneyView’s operating revenue increased by 2.6X to Rs 577 crore in FY23. Its profit increased 27X to Rs 163 crore in FY23 from Rs 6 crore in FY22 during the same period.
“Moneyview is also set to acquire a mid-stage fintech company,” said another source who also requested anonymity. “The terms of the acquisition have been finalized which is strategic in nature.”
