Money View, an Indian FinTech company, has raised $75m in Series E funding, valuing the company at $900m.
According to a report from Deal Street Asia, the round was led by the UK-based asset manager Apis Partners.
Money View was co-founded by Puneet Agarwal and Sanjay Aggarwal in 2014. The company offers 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.
In March 2022, Money View closed its Series D funding round on $75m, which valued the business at $625m. The round was backed by Tiger Global, Winter Capital, Evolvence India, Accel, South Park Commons, Trusted Insight and Dream Incubator.
The Series D investment round came 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.
At the time of last year’s round, Money View said it planned to use the capital scale its core credit business, hire more staff and expand its product portfolio to include digital bank accounts, insurance and wealth management solutions.
The Bengaluru-based company will use the latest funds as growth capital to scale its core credit business, expand the team, and broaden its product portfolio with services such as digital bank accounts, insurance and wealth management solutions.
Money View was initially hoping to raise up to $150m in the Series E round, sources told DealStreetAsia.
“MoneyView struggled hard to reach $150 million in fundraising with PE giant Apis. It was in talks with Advent also, but that fell through,” a venture capitalist, whom Money View had approached for funding, told DealStreetAsia a few weeks ago.
Copyright © 2023 FinTech Global