PE Fund Investments
Digital lender Moneyview raises Rs.39-Cr led by Accel, Nexus; turns unicorn
Bengaluru-based consumer lending platform Moneyview has raised INR 38.64 crore from existing investors Accel India ( INR 29 crore) and Nexus Ventures (INR 19 crore). The company has been valued at around INR 10,086 crore (USD 1.2 Billion) post-money and has thus become a unicorn.Moneyview will issue 60,23,382 equity shares at an INR 64.15 each to raise INR 38.64 crore (approximately USD 4.65 million).Moneyview was valued at USD 900 million when it raised USD 75 million led by Tiger Global in December 2022. Accel was the largest external stakeholder with 22.28% followed by Tiger Global with 12% as of Series E round.Ten-year-old Moneyview primarily deals in personal and home loans, credit cards, credit score, motor insurance and loans against property. The firm also provides credit through its own NBFC, Whizdm Finance, and claims to have disbursed overall loans worth INR 12,000 crore.Moneyview’s revenue from operations grew 2.6X to INR 577 crore in FY23 while its profit grew 27X to INR 163 crore. The firm’s profit before tax stood at INR 175 crore in FY24.
Between Nov-14 and Dec-22, Moneyview had raised over USD 205 M from Tiger Global, Apis Partners, Accel India, Winter Capital, Ribbit Capital, Dream Incubator, Evolvence India and others.
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