Online credit platform Money View has expanded its employee stock option (ESOP) pool by adding Rs 72 crore worth options. The expansion has come after two months of the company’s Series D round.
Money View has passed a special resolution to increase its ESOP pool to Rs 1,75,390 options from 1,33,338 options, regulatory filings show. Every option will be converted into equity shares as the time exercise.
According to Fintrackr’s estimates, the adoption of new options is worth Rs 72 crore whereas its total ESOP pool is now worth Rs 300 crore or close to $40 million.
With this, Money View has joined a clutch of growth and late-stage companies including LEAP, Wiz Freight, Ather Energy, Ninjacart, Ecom Express, Pine Labs and VeGrow which have expanded their ESOP pool in 2022.
Money View raised $75 million in a Series D round from Tiger Global, Winter Capital, Evolvence India, and Accel at a valuation of $625 million.
The eight-year-old company provides personalised credit products like instant personal loans, cards, BNPL and personal financial products. It has partnered with over 15 financial institutions for its credit offerings. The company had claimed 4X growth in 2021 and targets $1 billion in assets under management (AUM) by FY23.
During FY21, Money View’s revenue from operations grew 20% to Rs 98.45 crore from Rs 81.45 crore in FY20. Meanwhile, the Bengaluru-based company had managed to control losses by 31% to Rs 46.81 crore in FY21 from Rs 68.30 crore in the previous financial year (FY20).
Money View directly competes with MoneyTap, InCred, Navi, Indialends and CASHe whereas ZestMoney and Slice are its indirect competitors.