India-based FinTech platform Money View has closed its Series D funding round on $75m, which values the business at $625m.
The round was backed by Tiger Global, Winter Capital, Evolvence India, Accel, South Park Commons, Trusted Insight and Dream Incubator.
With the capital, the company plans to scale its core credit business, hire more staff and expand its product portfolio to include digital bank accounts, insurance and wealth management solutions.
The investment round comes after a strong year of growth for Money View, which recorded a four-times year-over-year growth. It also claims to disburse loans at an annualised run rate of $700m and is on a trajectory to reach $1bn AUM over the next 12 months.
Money View was co-founded by Puneet Agarwal and Sanjay Aggarwal and services as an online credit platform with a full suite of personalised credit products. Its features include personal loans, cards, BNPL and personal financial management solutions.
The company has partnered with over 15 financial institutions to offer credit and financial products on its platform.
India has established a big FinTech sector. In 2021, the country represented 7% of all new FinTech unicorns, with 11 in total. It only followed behind the US and UK.
The country has already seen new FinTech unicorns this year. CredAvenue, which helps businesses and entrepreneurs secure debt from lenders, reached the $.3bn valuation after the close of its Series B on $137m.
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