Fintech startup Money View raises $75 million in funding to scale core credit business
Bengaluru-based fintech startup Money View said it has raised $75 million in its Series E funding round led by private equity giant Apis Partners. The round, which saw participation from Tiger Global, Winter Capital and Evolvence, values the online financial services provider at $900 million, the company said in a statement. It had reported in October that Money View was in talks to raise up to $150 million in a round being led by Apis.
The round is the second fundraise this year for Money View, which picked $75 million in Series D funding from investors including Tiger Global, Winter Capital, Evolvence India and Accel in March, following which it was valued at $625 million. Founded in 2014, Money View provides personalised credit products and personal financial management solutions to end consumers.
The startup said the proceeds of the latest fundraise will be used as growth capital to scale the core credit business, expand its team, and add to its product portfolio with services such as digital bank accounts, insurance, and wealth management solutions.
Money View said it is currently operating at an annualised disbursal run rate of $1.2 billion and managing assets under management (AUMs) of over $800 million. It added that the company has been unit economic positive since inception, and profitable for the past two years.
“Money View has achieved great success already, with their credit products democratising the access for millions of customers in India, and we are excited to partner with them at this stage of its journey,” said Matteo Stefanel, cofounder and managing partner at Apis Partners.
Apis has also backed the likes of online payments services provider, Cashfree; crowdfunding platform, Impact Guru; non-bank finance company, Hero FinCorp; and health insurer, Star Health in India.
Money View’s latest fundraise comes at a time when investments in growth- and late-stage startups have been witnessing a slump with higher increased interest rates and weaker global public markets continuing to subdue investor sentiment.
The round is the second fundraise this year for Money View, which picked $75 million in Series D funding from investors including Tiger Global, Winter Capital, Evolvence India and Accel in March, following which it was valued at $625 million. Founded in 2014, Money View provides personalised credit products and personal financial management solutions to end consumers.
The startup said the proceeds of the latest fundraise will be used as growth capital to scale the core credit business, expand its team, and add to its product portfolio with services such as digital bank accounts, insurance, and wealth management solutions.
Money View said it is currently operating at an annualised disbursal run rate of $1.2 billion and managing assets under management (AUMs) of over $800 million. It added that the company has been unit economic positive since inception, and profitable for the past two years.
“Money View has achieved great success already, with their credit products democratising the access for millions of customers in India, and we are excited to partner with them at this stage of its journey,” said Matteo Stefanel, cofounder and managing partner at Apis Partners.
Apis has also backed the likes of online payments services provider, Cashfree; crowdfunding platform, Impact Guru; non-bank finance company, Hero FinCorp; and health insurer, Star Health in India.
Money View’s latest fundraise comes at a time when investments in growth- and late-stage startups have been witnessing a slump with higher increased interest rates and weaker global public markets continuing to subdue investor sentiment.
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