Moneyview Raises $30 Million in Debt to Fuel Future Growth

Moneyview, the Bengaluru-based lending platform, is set to raise Rs 250 crore (approximately $30 million) through a private debt placement, marking its first major debt round in three years. The company’s board has approved the issuance of non-convertible debentures (NCDs) to facilitate this funding, according to internal documents accessed by Entrackr from the Registrar of Companies.

Funding to Support Growth and Working Capital

The newly acquired funds will be allocated towards growth initiatives, working capital, and general corporate purposes. This debt infusion is part of Moneyview’s broader strategy to scale its operations and enhance its market presence.

In addition to this debt round, Moneyview is nearing unicorn status, with ongoing discussions to secure $50-60 million in an upcoming funding round. This round is expected to include participation from new investors alongside current backers such as Apis Partners, Accel Partners, and Evolvence India. The company had previously raised $75 million in a Series E round led by Apis Partners, bringing its total funding to approximately $190 million.

Valuation and Shareholding

Moneyview was valued at $900 million during its last equity funding round. According to TheKredible, Accel Partners remains the largest external stakeholder with a 22.28% share, followed by Tiger Global with a 12% stake. Co-founders Puneet and Sanjay Agarwal hold a combined 24% of the company. Other significant investors include Ribbit Capital, Apis Partners, Winter Capital, and Evolvence.

Company Profile and Financials

Founded in 2014, Moneyview provides a range of financial services including personal and home loans, credit cards, credit score monitoring, motor insurance, and loans against property. The company also operates its own non-banking financial company (NBFC) named Whizdm Finance. To date, Moneyview has disbursed loans worth Rs 12,000 crore.

The company’s financial performance has shown significant growth. For FY23, Moneyview reported a 2.6x increase in revenue from operations to Rs 577 crore, and a 27x rise in profit to Rs 163 crore. The figures for FY24 are yet to be disclosed.

Looking Ahead

With the new debt funding and potential equity round, Moneyview is poised for continued expansion and growth. The company’s strong financial performance and upcoming funding rounds position it well for future success and scalability in the competitive financial services sector.