Fintech firm MoneyView raises $75m in Series D funding

Bengaluru-based financial technology company MoneyView has recently closed its Series D funding round with primary investments from Tiger Global, Winter Capital, Evolvence India, and Accel. The other investors who participated in the round include South Park Commons, Trusted Insight, and Dream Incubator.

With this $75 million raised in Series D, the company has now been valued at $625 million. It had earlier raised Rs 100 crore or $13.3 million in its Series C round led by Accel.

MoneyView, founded by Puneet Agarwal and Sanjay Aggarwal, offers personalised credit products like instant personal loans, cards, buy-now-pay-later (BNPL) products of up to Rs 5 lakh to individuals and personal financial management solutions. The company, claiming to be a market leader, has partnered with over 15 financial institutions to offer credit/financial products on its platform.

It is catering to over 200 million customers with one million-plus app downloads per month. It serves customers who are often ignored by banks and other traditional financial institutions. Ease of using the app and other inbuilt advantages have allowed the firm to grow fast since its inception in April 2014. It has reached across the country with 75% of its customers coming from Tier 2 and 3 cities. The fintech firm, with its proprietary data models, has grown 4x year-on-year with a strong track record of profitability.

Money View is at present disbursing loans at a rate of $700 million per year and aims to reach $1 billion assets under management (AUM) over the next 12 months. The fresh funding, for which Raine Group was the lone financial advisor, will be used to grow the company’s core credit business, hire new talent, and expand its product portfolio with services like digital bank accounts, insurance, and wealth management solutions, according to a statement from the company.

Tiger Global, like last year, has continued its investment spree this year too. The fund, based out of New York, has invested in a number of startups this year including DealShare, M2P Fintech, Refyne, LoadShare, ChargeBee, and Jar.