Moneyview Scoops up Rs 250 Crore in Debt Funding, Eyes Unicorn Tag
Bengaluru-based fintech platform Moneyview has secured Rs 250 crore in debt funding through a private placement, marking its first significant debt round in three years. The investment will primarily be utilized for growth, working capital, and general corporate purposes.
The board of Moneyview has passed a special resolution to issue non-convertible debentures worth Rs 250 crore. This development comes as the company is on the cusp of joining the prestigious unicorn club, with a $50-60 million funding round in the works.
This latest funding round is expected to see participation from new investors alongside existing ones, including Apis Partners, Accel Partners, and Evolvence India. Moneyview, backed by Tiger Global, has raised around $190 million to date, including a $75 million Series E round led by Apis Partners. The firm was valued at $900 million in its last equity round.
The startup’s financials have seen significant growth, with the company reporting a 2.6X increase in revenue from operations to Rs 577 crore in FY23. Its profit also mounted 27X to Rs 163 crore during the same fiscal year. With a decade of experience in personal and home loans, credit cards, credit score viewing, motor insurance, and loans against property, Moneyview claims to have disbursed loans worth Rs 1,200 crore.
This funding injection is expected to further amplify the company’s growth trajectory, solidifying its position in the fintech space.
