Moneyview becomes India's newest unicorn startup with a valuation of $1.2 billion: Report

Bengaluru-based loan provider Moneyview has reportedly become India's newest unicorn startup after raising funding at a valuation of $1.2 billion.

Although there has been no official confirmation from the company, a report by Entrackr suggests that the startup raised funding from existing backers Accel India and Nexus Ventures.

Who invested how much?

According to the report, Accel India contributed Rs 29 crore, while Nexus Ventures added Rs 19 crore. The funding round is still ongoing, and Moneyview is likely to raise more funds in the upcoming months.

In December 2022, Moneyview achieved a soonicorn status after it raised $75 million at a valuation of $900 million. That round was led by Winter Capital, US-based Tiger Global Management, Evolvence India Fund, and Apis Partners.

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Who are the founders?

Puneet Agarwal and Sanjay Aggarwal founded Moneyview in 2014. The startup offers personalised credit products, such as instant personal loans and personal financial management solutions.

It has partnered with NBFCs, including 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

For FY23, Moneyview reported a 160% growth in its operating revenue from Rs 222 crore in FY22 to Rs 577 crore.

More impressively, the startup's profit surged by 2,616% from Rs 6 crore in FY22 to Rs 163 crore in FY23. According to the reports, its profit before tax stood at Rs 175 crore in FY24.