Lending Startup Moneyview Turns Unicorn
The company on Thursday also acquired Jify.co, a fintech that offers employees credit weighted against their salary, on demand.
Lending platform Moneyview has turned unicorn after raising fresh funds at a valuation of over $1 billion.
The Bengaluru-based company raised about $4.6 million, or roughly Rs 39 crore, from investors Accel India and Nexus Ventures at a valuation just north of Rs 10,000 crore, or about $1.2 billion, according to its filings with the Ministry of Corporate Affairs.
The company on Thursday also acquired Jify.co, a fintech that offers employees credit weighted against their salary, on demand.
"The acquisition also marks a significant milestone in Moneyview’s ongoing expansion into a diverse range of financial products ranging from credit to savings and investment products catering to every Indian with a smartphone," it said in a statement.
The acquisition involved a share swap, whereby Accel and Nexus, the existing investors of Jify were allotted shares of Moneyview.
"The coming together of powerhouse Moneyview, with a decade of experience in financial services and strong economic fundamentals, with Jify.co that services over 250+ blue-chip corporate with millions of employees, will deepen inclusion for the financially-underserved Indian consumer, through a suite of products like personal credit, UPI, insurance, savings, home loans and loans against property, amongst others," the statement added.
Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview currently offers personal loans, personal finance management solutions, and credit trackers and will be launching a suite of other financial products as well. It is a Series-E company, with investors like Apis partners, Tiger Global, Accel Partners, and Ribbit among others.
