Fresh funding for growth capital to scale core credit business
Bengaluru-headquartered Fintech platform Money View says the US$75 million raised in series D funding from Tiger Global, Winter Capital, Evolvence India, Accel along with other investors including South Park Commons, Trusted Insight and Dream Incubator, will help reach US$1 billion AUM over the next 12 months.
The fresh funding will be used as growth capital to scale the core credit business, grow the team, and expand its product portfolio with services like digital bank accounts, insurance, and wealth management solutions, said Money View, now valued at US$625 million.
Money View has grown 4x year-over-year with strong unit economics and track record of profitability. The company is disbursing loans at an annualized run rate of US$700 million and is on a trajectory to reach US$1 billion AUM over the next 12 months, the company said on 9 Mar 2022.
With 1+million monthly App downloads, the company is catering to 200+million underserved customers who are often ignored by banks and other financial institutions for their financial needs. Money View’s robust digital technology & frictionless user experience allows pan India reach with 75% of the users coming from Tier 2/3 cities.
The company’s proprietary data models provide a 360-degree risk assessment, enabling credit for the underserved segments.
Co-founded by Puneet Agarwal and Sanjay Aggarwal, Money View is a leading online credit platform that offers a full suite of personalized credit products like instant personal loans, cards, BNPL and personal financial management solutions.
The company has partnered with over 15 financial institutions to offer credit/financial products on its platform.
The Raine Group was the exclusive financial advisor to Money View for this round. fiinews.com
