Moneyview, the Bengaluru-based fintech startup, has recently achieved unicorn status, marking a significant milestone in India’s burgeoning startup ecosystem. According to a report by Entrackr, Moneyview has reached
Moneyview, the Bengaluru-based fintech startup, has recently achieved unicorn status, marking a significant milestone in India’s burgeoning startup ecosystem. According to a report by Entrackr, Moneyview has reached a $1.2 billion valuation following its latest funding round. This new valuation positions Moneyview among the elite group of startups valued at over a billion dollars, showcasing the growing potential of India’s tech and financial sectors.
While Moneyview has not yet made an official announcement, sources indicate that the startup raised substantial capital from its existing investors, Accel India and Nexus Ventures. Accel India contributed ₹29 crore, and Nexus Ventures added ₹19 crore to this funding round. The investment is expected to continue, with Moneyview potentially securing additional funds in the coming months.
The recent funding round comes on the heels of a notable achievement in December 2022 when Moneyview was valued at $900 million after raising $75 million. This earlier round was led by Winter Capital, US-based Tiger Global Management, Evolvence India Fund, and Apis Partners, further cementing the startup’s place in the financial technology landscape.
Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview has made significant strides in the fintech industry. The startup specializes in offering personalized credit products, including instant personal loans and comprehensive personal financial management solutions. Its innovative approach has led to partnerships with a range of Non-Banking Financial Companies (NBFCs) and financial institutions, such as Whizdm Finance, Aditya Birla Capital, DMI Finance, Clix, Incred Finance, Northern Arc, Vivriti Capital, IDFC First Bank, and Oxyzo, among others.
Moneyview’s financial performance underscores its impressive growth trajectory. For the fiscal year 2023 (FY23), the company reported a dramatic 160% increase in operating revenue, soaring from ₹222 crore in FY22 to ₹577 crore. This revenue growth is accompanied by an extraordinary surge in profitability, with net profit skyrocketing by 2,616% from ₹6 crore in FY22 to ₹163 crore in FY23. Additionally, the startup’s profit before tax for FY24 stood at ₹175 crore, reflecting robust financial health and operational efficiency.
Moneyview’s ascension to unicorn status highlights the increasing attractiveness of India’s fintech sector to investors. This achievement not only marks a milestone for the startup itself but also underscores the potential for innovation and growth within the Indian financial technology industry. As Moneyview continues to expand its services and scale its operations, it is poised to play a pivotal role in shaping the future of personal finance in India.
With its recent success, Moneyview joins a growing list of Indian startups that have achieved unicorn status, reflecting the dynamic and rapidly evolving nature of the country’s startup ecosystem. The company’s impressive financial results and strategic investments further bolster its position as a leader in the fintech space.
