SUMMARY
- Moneyview is raising $30 million with the help of private placements.
- All set to join the Unicorn club with $50-60 million raised, Moneyview was valued at $900 million.
- The Company’s revenue hiked up to 2.6 times to Rs 577 crores while earnings grew 27 times up to 163 crores in FY23
Moneyview, a lending platform, is bringing in funding worth $30 million through private placements. For the first time in the last three years, this firm will be receiving such a significant debt round. The board Moneyview has approved an additional resolution for the issuance of nonconvertible bonds.
The debt infusion will be applied for general corporate operations, growth, and capital as well. While acquiring $50-60 million, Moneyview is about to become a member of the exclusive Unicorn club. As new investors like Accel Partners, Evlolvence India, and Apis Partners are involved in the investment round, Apis Partners has raised over $190 million so far, which also includes a $75 million Series E investment. In the most recent stock transaction, the company was valued at $900 million.
As per The Kredible, 22.28% of the company’s equity belongs to Accel, and 12% is held by Tiger Global. 24% of the company’s equity is held by Puneet and Sanjay Aggarwal combined. Moneyview was established in 2014, specializing in auto insurance, credit cards, credit score viewing, personal and home loans, and loans secured by real estate.
In addition to third parties, the company extends financing via Whizdom Finance, its own NBFC. During its ten-year journey, it claims to have granted loans of Rs. 1,2000 crore. In the Fiscal Year 2023, Moneyview had its operating increased by 2.6 times up to Rs. 577 crore.
Its earnings during the previously mentioned Fiscal Year surged up to 27 times to Rs.163 crore. Although Moneyview has not yet publicized its Fiscal Year 2024 financial figures.
