Lending platform Moneyview is set to receive Rs 250 crore (around $30 million) in debt through private placements, marking its first significant debt round in the last three years. The Bengaluru-based company’s board approved a special resolution to issue non-convertible debentures up to this amount, as per documents from the Registrar of Companies. This debt infusion is aimed at supporting the firm’s growth, working capital needs, and general corporate purposes.
Moneyview is also close to achieving unicorn status, with ongoing discussions to raise an additional $50-60 million. This funding round will involve both new and existing investors, including Apis Partners, Accel Partners, and Evolvence India. The Tiger Global-backed company has raised about $190 million so far, including a $75 million Series E round led by Apis Partners, valuing the firm at $900 million in its last equity round. Major stakeholders in Moneyview include Accel with a 22.28% share, Tiger Global holding 12%, and co-founders Puneet and Sanjay Agarwal collectively owning 24% of the company. Other significant investors include Ribbit Capital, Apis Partners, Winter Capital, and Evolvence.
Founded in 2014, Moneyview specializes in personal and home loans, credit cards, credit score viewing, motor insurance, and loans against property. The company also offers credit through its own NBFC, Whizdm Finance, and claims to have disbursed loans totaling Rs 12,000 crore over its decade-long operation. While FY24 financials are yet to be disclosed, Moneyview’s revenue from operations grew 2.6 times to Rs 577 crore in FY23, with profits surging 27 times to Rs 163 crore during the same period.