Tech-enabled lending platform Moneyview is on the brink of achieving unicorn status, with the Bengaluru-based firm nearing the completion of a new funding round. The company is reportedly in advanced discussions to secure between $50 million and $60 million in its Series F round, with participation from both new and existing investors. Sources close to the matter, indicate that this round will include new backers alongside current investors like Apis Partners, Accel Partners, and Evolvence India.
Moneyview previously raised $75 million in December 2022, led by Apis Partners. The current funding round is expected to push the company’s valuation past the $1 billion mark, with negotiations for the terms nearing completion. To date, Moneyview has secured nearly $190 million in total funding and was valued at approximately $900 million during its last fundraising event. This valuation followed two substantial funding rounds in 2022, each raising $75 million.
If successful, this funding round will mark Moneyview as the third unicorn of 2024, following the achievement of Krutrim SI Designs and Perfios. Founded by Puneet Agarwal and Sanjay Aggarwal, Moneyview offers a range of financial services, including personal and home loans through third-party lenders, credit cards, credit score monitoring, and loans against property.
The company’s strong growth and profitability have attracted significant investor interest. Moneyview’s revenue from operations surged 2.6 times to Rs 577 crore in FY23, while its profit saw an extraordinary increase of 27 times, reaching Rs 163 crore compared to Rs 6 crore in FY22. Despite not yet disclosing financial figures for FY24, these results highlight the company’s robust performance.
In addition to its funding efforts, Moneyview is also preparing to acquire a mid-stage fintech company. The strategic acquisition’s terms have been finalized, though the name of the company remains undisclosed. This move is expected to further strengthen Moneyview’s position in the fintech sector and enhance its growth trajectory.
