Money View to raise $150M in Series E funding round led by Apis Partners: report
Bengaluru-headquartered lending company $75 million in March 2022 in a Series D round of funding. The Series D round saw participation from Tiger Global, Accel, Winter Capital, Evolvence India, and others.is said to be in talks to raise $150 million in a new round of equity funding, at over $1 billion post-money valuation. It had raised
The current Series E round is reportedly being led by private equity player Apis Partners, said a report published in The Economic Times. Money View did not comment on queries till the time of publishing this news report.
Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Money View offers a suite of personalised credit products such as instant personal loans, ranging from Rs 10,000 to Rs 5 lakh, cards, buy now pay later (BNPL), and personal finance management solutions. The company has partnered with over 15 financial institutions for its credit offering.
The startup claims to have an annualised revenue run rate of Rs 600 crore for the financial year 2022.
Money View was valued at $625 million in the Series D round of funding. The company's valuation is expected to jump in the current round of funding. This is significant in the light of RBI’s circular in June 2022, which prevents non-banks from loading prepaid instruments using credit lines. The circular has affected the business of multiple lending apps and BNPL players, forcing many of them to look for alternative business models.
Edited by Swetha Kannan