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Exclusive: Moneyview set to turn unicorn in Series F round

EntrackrEntrackr · 1y ago
Exclusive: Moneyview set to turn unicorn in Series F round
Medial

Tech-enabled lending platform Moneyview is likely to turn into a unicorn as the Bengaluru-based firm appears close to finalizing a new round from new and existing investors, said two people familiar with details of the ongoing discussions. The firm last raised $75 million led by Apis Partners in December 2022. “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.” The terms of the deal are in the last leg of negotiation and Moneyview will surpass the $1 billion valuation mark, said sources. Moneyview has raised nearly $190 million (Rs 1,563 crore) to date and was valued at around $900 million (Rs 7,300 crore) in its last fundraise. The company had raised back to back rounds ( Series D and E) $75 million each in March and December 2022. If the deal gets through, Moneyview would be the third unicorn of the year. Krutrim SI Designs and Perfios made it to the unicorn club in 2024. Founded by Puneet Agarwal and Sanjay Aggarwal, Moneyview largely deals in personal and home loans through third party lenders. It also offers credit cards, credit score viewing and loans against property. The firm’s growth momentum and profitability have attracted new and existing investors, sources outlined. While The company is yet to disclose FY24 financial numbers, MoneyView’s revenue from operations grew 2.6X to Rs 577 crore in FY23. During the same period (FY23), its profit mounted 27X to Rs 163 crore from Rs 6 crore in FY22. “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.” Entrackr couldn’t ascertain the name of the acquiree. Queries sent to Moneyview founders and Accel didn’t elicit any response. As per startup data intelligence platform TheKredible, fintech startups raised over $2 billion across 62 deals during H1 2024. This accounted for 34% or one-third of the total fundraise during the period. When it comes to lending, the total fund raised stood at around $900 million as of the first half of this year.

Exclusive: Fintech unicorn Moneyview to convert into public company ahead of IPO

EntrackrEntrackr · 2m ago
Exclusive: Fintech unicorn Moneyview to convert into public company ahead of IPO
Medial

Fintech unicorn Moneyview is set to convert into a public company ahead of its IPO. The company recently changed its parent company’s name from “Whizdm Innovations Private Limited” to “Moneyview Private Limited.” The board has passed a special resolution to convert the company into a public entity, renaming it “Moneyview Limited.” Moneyview aims to raise over $400 million through its IPO, having appointed Axis Capital, Kotak Mahindra, and others as banking partners. Founded in 2014, Moneyview offers loans, credit cards, BNPL, and financial management tools, partnering with over 15 institutions. It has raised over $230 million from investors such as Accel and Tiger Global. For FY24, Moneyview's revenue increased by over 75% to Rs 1,012 crore, with a profit of Rs 171 crore. Other fintech firms like Pine Labs and Razorpay are also preparing to go public.

Exclusive: Moneyview becomes unicorn with new funding

EntrackrEntrackr · 10m ago
Exclusive: Moneyview becomes unicorn with new funding
Medial

Consumer lending platform Moneyview has turned unicorn in a new funding round from the existing investors Accel India and Nexus Ventures. The board at Moneyview has passed a special resolution to issue 60,23,382 equity shares at an issue price of Rs 64.15 each to raise Rs 38.64 crore (approximately $4.65 million), according to regulatory filings sourced from the Registrar of Companies (RoC). Accel India has invested Rs 29 crore, while Nexus Ventures pumped in Rs 19 crore. The round appears to be ongoing, with the company likely to raise additional capital in the coming months. According to the startup data intelligence platform TheKredible, Moneyview has been valued at around Rs 10,086 crore or $1.2 billion (post-allotment). Moneyview was valued at $900 million when it raked in $75 million led by Tiger Global in December 2022. In July, Entrackr exclusively reported that Moneyview is in the process of raising $50-60 million in a new round. The firm is also on the brink of receiving $30 million in debt through private placements. The debt round was exclusively reported by Entrackr on September 2. Ten-year-old Moneyview primarily deals in personal and home loans, credit cards, credit score, motor insurance and loans against property. The firm also provides credit through its own NBFC, Whizdm Finance, and claims to have disbursed overall loans worth Rs 12,000 crore. Moneyview’s revenue from operations grew 2.6X to Rs 577 crore in FY23 while its profit mounted 27X to Rs 163 crore during the fiscal year. According to the company’s internal document accessed by Entrackr, Moneyview’s profit before tax stood at Rs 175 crore in FY24. Accel was the largest external stakeholder in Moneyview with 22.28% followed by Tiger Global with 12% as of Series E round. Check TheKredible for a complete cap table. In 2024, six startups including Moneyview, Krutrim, Perfios, Porter, Rapdio, and Ather checked into the unicorn club. Notably, all of these companies are headquartered in Bengaluru.

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