Moneyview
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Company type | Private |
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Industry |
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Founded | 2014 |
Founder |
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Headquarters | Bangalore, Karnataka, India |
Revenue | ₹577 crore (US$69 million) (FY23) |
₹163 crore (US$20 million) (FY23) | |
Website | moneyview |
Moneyview is an Indian fintech company, operated by Whizdm Innovations Pvt Ltd, based in Bangalore[1]. Moneyview operates in digital lending and financial services[2]. Moneyview provides products like personal loans, personal finance manager, and credit score tracking[3].
History
Moneyview was founded in 2014[1][2] by Puneet Agarwal and Sanjay Aggarwal with the aim of simplifying finances[2] and providing financial inclusion[3] to all Indians. The company initially started with providing a financial management app[1] for Android.
In November 2016, Moneyview shifted their primary focus to digital lending.[4][5] Moneyview is a founding member[6] of the Digital Lending Association of India (DLAI). The DLAI comprises over 80 digital lending players; including Cred, Paytm, Experian, and RBL Bank; and represents around 85% of the transaction volume of the digital credit industry in India.[7]
In September 2023, Moneyview received ISO 27001:2022 certification,[8] an international standard for management and protection of the confidentiality, integrity and availability of information handled by the company.
As of December 2022, Moneyview had an annualized disbursal run-rate of $1.2 billion, with over $800 million in assets under management.[3]
Business model
Moneyview's digital lending works on a revenue-sharing arrangement with its lending partners, where the company bears the cost of acquiring and servicing customers, and the lender provides the capital.[9]
Moneyview has partnered with 15 financial institutions[10] to offer credit and financial products. These include DMI Finance, Aditya Birla Capital, IDFC First Bank,[11] Whizdm Finance, Clix Capital, Piramal Finance, and others.
Funding
As of September 2023, Moneyview has participated in 8 funding rounds and has raised a total of $215M from 13 investors. The latest funding was raised in December 2022 in a Series-E round.[12][13] This round of funding focuses on advancing Moneyview’s primary business and expanding products like digital bank accounts, insurance, and wealth management solutions to its portfolio.[3][14][15]
Announced Date | Transaction Name | Investor | Fund Raised | Valuation |
Oct 1, 2014 | Venture Round | Accel, Ribbit Capital | ₹101.7 M[2] | |
Apr 1, 2015 | Venture Round | Accel, Ribbit Capital, Tiger Global Management | ₹529.1 M | |
Jan 31, 2016 | Series B | Accel, Ribbit Capital, Tiger Global Management | ₹660 M | |
Dec 14, 2018 | Series C | Accel, Ribbit Capital | ₹1,000 M[16] | |
Mar 9, 2022 | Series D | Accel, Evolvence India Fund, Tiger Global Management, Winter Capital | $75 M[17] | $625 M |
Dec 26, 2022 | Series E | Apis Partner | $75 M[3] | $900 M |
References
- ^ a b c Pillai, Shalina (Sep 24, 2015). "Money View: An app to manage your finances". The Times of India. ISSN 0971-8257. Retrieved 21 March 2024.
- ^ a b c d Modgil, Shweta (Mar 31, 2016). "With 3 Mn Users In 2 Years, Here's How Money View Is Changing Fintech For Good". Inc42 Media. Retrieved 21 March 2024.
- ^ a b c d e "Money View raises $75 million led by Apis Partners, valuation jumps to $900 million". The Economic Times. Retrieved 1 August 2024.
- ^ Rao, Kembai Srinivasa. "Digital lending in India – Progress and prospects". The Times of India. Retrieved 22 March 2024.
- ^ "Spend more this Diwali with access to Instant Cash from these Apps, cash providers". The Financial Express. 2019-10-18. Retrieved 21 March 2024.
- ^ "Who Are We - Digital Lenders' Association of India". Digital Lenders' Association of India.
- ^ "More Than 250 Indian and International Fintech Firms Participate in the 3rd Edition of Digital Lending Association of India Conclave 2019". The Week. Apr 3, 2020. Retrieved 21 March 2024.
- ^ "moneyview receives ISO certification for Information Security Management System(ISMS)" (Press release). moneyview. PR Newswire. Sep 27, 2023. Retrieved 21 March 2024.
- ^ Upadhyay, Harsh; Manchanda, Kunal (Nov 15, 2022). "Money View turns profitable with 4X growth in scale during FY22". Entrackr. Retrieved 22 March 2024.
- ^ "moneyview Lending Partners". moneyview. Retrieved 21 March 2024.
- ^ "Whizdm Innovations Private Limited | IDFC FIRST Bank". IDFC FIRST Bank. Retrieved 21 March 2024.
- ^ "Lending firm Money View raises $75 million in Series E funding led by Apis Partners". Moneycontrol. 2022-12-26. Retrieved 21 March 2024.
- ^ "Money View raises $75 mn in funding round led by Apis Partners". The Financial Express. 2022-12-27. Retrieved 21 March 2024.
- ^ "Money View raises $75 million led by Apis Partners, valuation jumps to $900 million". The Economic Times. Dec 26, 2022. Retrieved 21 March 2024.
- ^ Singh, Manish (Dec 26, 2022). "Indian fintech Money View valued at $900 million in new funding". TechCrunch. Retrieved 21 March 2024.
- ^ Upadhyay, Harsh. "Money View raises $75 Mn from Tiger Global and others at $625 Mn valuation". Entrackr. No. Mar 9, 2022. Retrieved 22 March 2024.
- ^ Roy, Debjyoti (Mar 9, 2022). "Tiger Global-backed fintech startup Money View secures $75 mn in Series D round". Mint. Retrieved 22 March 2024.