Moneyview is receiving Rs 250 crore (approximately $30 million) in debt through private placements. It is the first big debt round by the company. The board Moneyview has passed a special resolution to issue non-convertible debentures up to Rs 250 crore.

As per the documents, the debt infusion will be used for growth, working capital, and general corporate purposes.

Moneyview is also on the brink of joining the prestigious unicorn club, with discussions underway to raise $50-60 million. The funding round will see participation from new investors alongside existing ones such as Apis Partners, Accel Partners, and Evolvence India.

Tiger Global-backed company 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 during its last equity round.

As per the reports, Accel was the largest external stakeholder in company with 22.28% followed by Tiger Global which held 12% of the company as of the last funding round. Its co-founders Puneet and Sanjay Agarwal cumulatively command 24% capital of the firm. Ribbit Capital, Apis Partners, Winter Capital, and Evolvence are other notable investors in Moneyview.

Founded in 2014, Moneyview largely deals in personal and home loans, credit cards, credit score viewing, motor insurance and loans against property. Besides third parties, the firm also offers credit through its own NBFC — Whizdm Finance. It claims to have disbursed loans worth Rs 1,2000 crore during its decade-old journey.

The company is yet to disclose FY24 financial numbers, the company’s revenue from operations grew 2.6X to Rs 577 crore in FY23. Its profit mounted 27X to Rs 163 crore during the said fiscal year.

 

visit: gamicaltech.com moneyview