Digital credit platform Money View has reportedly secured $75 million in capital via its Series E round, which has been led by Apis Partners, a UK-headquartered asset management firm.
The investment round also included contributions from Tiger Global, Winter Capital, and Evolvence.
As noted by Money View’s management, the firm is now valued at $900 million. The Bengaluru-headquartered Fintech had been previously valued at $625 million (at the time of the Tiger Global-led Series D round, which was finalized in March 2022). The firm has held discussions previously to secure approximately $150 million at a Unicorn ($1 billion+) valuation.
As reported by local sources, the funds will be channeled towards further scaling the main credit business, expand the professional team, and also extend its product portfolio with services like virtual banking accounts, insurance-related services, as well as wealth management solutions, the firm’s management confirmed.
Established in 2014 by Puneet Agarwal and Sanjay Aggarwal, Money View provides various credit products such as instant personal loans, payment cards, Buy Now Pay Later or BNPL solutions, as well as personal financial management services.
The firm further revealed that it has teamed up with more than 15 financial institutions for its wide range of credit offerings.
With more than 40 million+ app downloads, Money View says it is operating at an annualized disbursal run rate of $1.2 billion. As noted by the company’s management, it has seen positive returns since its launch and claims to have been profitable for the last couple years.
During financial year 2022, the company claims it experienced steady growth with a substantial increase in earnings.
Money View (in India) is competing for market share with Fintechs like KreditBee (which recently raised funding as well) and billionaire Sachin Bansal’s Navi.