Exclusive: Fintech unicorn Moneyview to convert into public company ahead of IPO

Consumer lending platform Moneyview is set to join the IPO rush, moving a step closer to its initial public offering after passing a resolution to convert into a public company.

Moneyview recently changed its parent company’s name from “Whizdm Innovations Private Limited” to “Moneyview Private Limited.” Taking another step toward its IPO plans, the board has now passed a special resolution to convert the company into a public entity and rename it “Moneyview Limited.”

As per media reports, the fintech unicorn is eyeing to raise over $400 million (around Rs 3,400 crore) through its initial public offering (IPO) and has reportedly appointed Axis Capital, Kotak Mahindra, and others as its banking partners.

Founded in 2014, Moneyview offers instant loans, credit cards, BNPL, and financial management tools in partnership with over 15 institutions.

According to startup data platform TheKredible, the Bengaluru-based firm has raised over $230 million across multiple rounds from investors including Accel, Tiger Global, and Ribbit Capital.

The Tiger Global-backed company entered the unicorn club in September last year after raising $4.6 million from Accel and Nexus Venture Partners, exclusively reported by Entrackr.

For the fiscal year ended March 2024, Moneyview's operating revenue jumped over 75% to Rs 1,012 crore, up from Rs 577 crore in FY23. The company also reported a profit of Rs 171 crore during the same period.

Moneyview joins a growing list of fintech firms preparing to go public, including Pine Labs and Razorpay, both of which have converted into public entities and Razorpay paid over $150 million in taxes to shift their domiciles to India. Another lending platform, KreditBee, is also in the process of relocating its domicile to India.