Money View, a Bengaluru-based lending fintech, has secured $75 million in a Series D round, bringing its valuation to $625 million, as fintech businesses continue to draw investor interest in the face of rising digitisation of financial services.
The round included Tiger Global, Winter Capital, Evolvence India, Accel, and other investors such as South Park Commons, Trusted Insight, and Dream Incubator, according to the company.
Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, IIT Delhi alumni, the company provides personalised credit products such as instant personal loans, cards, BNPL, and personal financial management solutions, and has partnered with over 15 financial institutions to offer credit/financial products on its platform.
According to a statement from the company, the new money will be used as development capital to scale the core credit business, grow the team, and expand its product line with services such as digital bank accounts, insurance, and wealth management solutions.
Puneet Agarwal, a co-founder and early-stage investor, has previously worked at Madura Micro Finance and Google. Sanjay Aggarwal founded minglebox.com in 2006, and this is his second venture. Aggarwal has worked with Yahoo and Ciena Corporation in the past.
Money View has over 200 million customers and has over a million downloads. Users from Tier II and III cities account for 75% of the company’s users. The company’s patented data models give a 360-degree risk assessment, allowing underserved areas to obtain financing.
The company stated that it had increased four times in the previous year and that it was still profitable. The organisation is disbursing loans at a rate of $700 million on an annualised basis and is on track to reach $1 billion in Assets Under Management (AUM) in the next 12 months.
Money View’s only financial advisor for this round was The Raine Group.
