Consumer lending platform, Moneyview, has reached unicorn status following a new funding round led by existing investors Accel India and Nexus Ventures.
Moneyview’s board approved a special resolution to issue 60,23,382 equity shares at an issue price of Rs 64.15 per share, raising Rs 38.64 crore (approximately $4.65 million), according to regulatory filings sourced from the Registrar of Companies (RoC).
In this round, Accel India invested Rs 29 crore, while Nexus Ventures contributed Rs 19 crore. The funding round is still active, with expectations for additional capital inflows in the coming months.
According to startup intelligence platform TheKredible, Moneyview’s post-funding valuation is estimated at Rs 10,086 crore (about $1.2 billion), pushing the company into unicorn territory.
Previously, Moneyview was valued at $900 million after securing $75 million in a round led by Tiger Global in December 2022.
In July 2024, Entrackr exclusively reported that Moneyview was in talks to raise an additional $50-60 million. The firm is also on the verge of securing $30 million in debt via private placements, as reported on September 2 by Entrackr.
On Thursday, Moneyview made headlines again with the acquisition of Jify.co, a platform that allows employees to access earned wages on demand.
This strategic move is expected to enhance Moneyview’s suite of financial services while expanding Jify’s reach to a broader audience of employees and organizations. Jify had previously raised $10 million in August 2022 from Accel and Nexus Venture Partners.
Moneyview has yet to make a public comment on its unicorn status.
Founded a decade ago, Moneyview focuses on providing personal and home loans, credit cards, credit score services, motor insurance, and loans against property. It also operates its own NBFC, Whizdm Finance, through which it has disbursed loans worth Rs 12,000 crore.
Financially, Moneyview experienced significant growth in FY23, with a 2.6X increase in revenue from operations to Rs 577 crore and a 27X surge in profit to Rs 163 crore. According to an internal document accessed by Entrackr, Moneyview’s profit before tax stood at Rs 175 crore in FY24.
As of its Series E round, Accel was the largest external shareholder in Moneyview with a 22.28% stake, followed by Tiger Global with 12%.
In 2024, six startups including Moneyview, Krutrim, Perfios, Porter, Rapido, and Ather achieved unicorn status.
