Bengaluru-based fintech platform Money View, operated by Whizdm Innovations Pvt Ltd, has raised $75 million in its Series D funding from Tiger Global, Winter Capital, Evolvence India, Accel along with other investors including South Park Commons, Trusted Insight, and Dream Incubator.
As per an official statement, the startup is now valued at $625 million.
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, the statement added.
Puneet Agarwal, CEO and Co-founder, Money View, said,
“We believe India is one of the most underserved large economies when it comes to access to credit. We are extremely delighted to have partnered with marquee investors who trust in this vision of ours to make credit accessible to every Indian. We will continue to invest in strengthening our partnerships and hiring the best talent.”
Co-founded by Puneet Agarwal and Sanjay Aggarwal in 2014, Money View is an online credit platform that offers a full suite of personalised credit products like instant personal loans, cards, BNPL, and personal financial management solutions. The startup has partnered with over 15 financial institutions to offer credit/financial products on its platform.
With more than 1 million monthly app downloads, the firm is catering to over 200 million underserved customers who are often ignored by banks and other financial institutions for their financial needs. Money View’s robust digital technology and frictionless user experience allows pan India reach with 75 percent of the users coming from Tier-II and III cities.
Money View's proprietary data models provide a 360-degree risk assessment, enabling credit for the underserved segments.
Money View claims to have 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 $700 million and is on a trajectory to reach $1 billion AUM over the next 12 months.
The Raine Group was the exclusive financial advisor to Money View for this round.
Edited by Saheli Sen Gupta