Exclusive: Moneyview becomes unicorn with new funding

Consumer lending platform Moneyview has turned unicorn in a new funding round from the existing investors Accel India and Nexus Ventures.

The board at Moneyview has passed a special resolution to issue 60,23,382 equity shares at an issue price of Rs 64.15 each to raise Rs 38.64 crore (approximately $4.65 million), according to regulatory filings sourced from the Registrar of Companies (RoC).

Accel India has invested Rs 29 crore, while Nexus Ventures pumped in Rs 19 crore. The round appears to be ongoing, with the company likely to raise additional capital in the coming months.

According to the startup data intelligence platform TheKredible, Moneyview has been valued at around Rs 10,086 crore or $1.2 billion (post-allotment).

Moneyview was valued at $900 million when it raked in $75 million led by  Tiger Global in December 2022.

In July, Entrackr exclusively reported that Moneyview is in the process of raising $50-60 million in a new round. The firm is also on the brink of receiving $30 million in debt through private placements. The debt round was exclusively reported by Entrackr on September 2.

On Thursday, Moneyview announced the acquisition of Jify.co, a platform that enables employees to access their earnings on demand. This strategic acquisition is set to strengthen Moneyview’s comprehensive suite of financial services while enabling Jify to scale its offerings to a wider network of employees and organizations.

In August 2022, Jify raised $10 million in funding from Accel and Nexus Venture Partners.

However, the company did not comment on unicorn valuation.

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 Rs 12,000 crore.

Moneyview’s revenue from operations grew 2.6X to Rs 577 crore in FY23 while its profit mounted 27X to Rs 163 crore during the fiscal year. According to the company’s internal document accessed by Entrackr, Moneyview’s profit before tax stood at Rs 175 crore in FY24.

Accel was the largest external stakeholder in Moneyview with 22.28% followed by Tiger Global with 12% as of Series E round. 

Check TheKredible for a complete cap table.

In 2024, six startups including Moneyview, Krutrim, Perfios, Porter, Rapdio, and Ather checked into the unicorn club. Notably, all of these companies are headquartered in Bengaluru.

Update: The story has been updated to include Moneyview's latest acquisition announcement.