Bengaluru-based tech-enabled lending platform Moneyview is on the verge of achieving unicorn status, as it nears the finalization of a Series F funding round. The company is expected to raise between $50 million and $60 million from both new and existing investors.
Moneyview’s previous funding round in December 2022 raised $75 million, led by Apis Partners. In the upcoming Series F round, participation is anticipated from Apis Partners, along with new investors and existing backers such as Accel Partners and Evolvence India. The negotiations are in the final stages, with the firm set to surpass a $1 billion valuation.
To date, Moneyview has raised nearly $190 million (approximately Rs 1,563 crore). The company was valued at around $900 million (about Rs 7,300 crore) during its last fundraise. The firm raised $75 million each in Series D and E rounds in March and December 2022, respectively
Founded by Puneet Agarwal and Sanjay Aggarwal, Moneyview specializes in personal and home loans, credit cards, credit score monitoring, and loans against property. The company has demonstrated strong growth and profitability, attracting both new and existing investors.
For FY23, Moneyview reported a significant increase in revenue and profit. Revenue from operations surged 2.6 times to Rs 577 crore, while profit grew 27 times to Rs 163 crore, up from Rs 6 crore in FY22. The firm has not yet disclosed its financials for FY24.
Moneyview is also set to acquire a mid-stage fintech company, with the acquisition terms already finalized. This move is expected to be strategic, though details about the target company have not been disclosed.
According to TheKredible, fintech startups raised over $2 billion across 62 deals during the first half of 2024, accounting for 34% of the total fundraising. Within the lending sector, approximately $900 million was raised during the same period.
If the Series F round concludes successfully, Moneyview will become the third unicorn of 2024, following Krutrim SI Designs and Perfios. The firm’s impressive growth metrics and strategic acquisitions position it strongly in the competitive fintech landscape.
