Moneyview Joins Unicorn Club After Fresh Capital Raise, Bolsters Services with Jify Acquisition With this acquisition, Moneyview aims to expand its financial services by integrating employee-focused solutions and enhancing its credit, savings, and investment offerings.
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Moneyview, a consumer lending platform, has achieved unicorn status following a new funding round from existing investors, Accel India and Nexus Ventures.
The company issued 60,23,382 equity shares at an issue price of INR 64.15 each, raising INR 38.64 crore (approximately USD 4.65 million), according to regulatory filings from the Registrar of Companies (RoC).
Accel India contributed INR 29 crore, while Nexus Ventures added INR 19 crore. With this ongoing round, Moneyview is likely to raise additional capital in the coming months, further strengthening its financial position.
Following this latest allotment, Moneyview's post-valuation stands at INR 10,086 crore, or USD 1.2 billion, according to data from startup intelligence platform TheKredible. This marks a significant leap from its December 2022 valuation of USD 900 million when Tiger Global led a USD 75 million funding round.
In addition to its latest valuation milestone, Moneyview has also expanded its portfolio through the acquisition of Mumbai-based employee benefit startup Jify. Jify offers a zero-cost, real-time salary advance platform for employees, giving them on-demand access to their earnings.
Jify had raised USD 10 million in funding from Accel and Nexus Venture Partners in June last year and counts investors such as Amica Financial Technologies, VCAPL, and Qed Innovation Labs among its backers. The acquisition was executed via a share swap, where Accel and Nexus, Jify's existing investors, were allotted shares in Moneyview.
With this acquisition, Moneyview aims to expand its financial services by integrating employee-focused solutions and enhancing its credit, savings, and investment offerings. This move will deepen the platform's reach into the underserved workforce.
Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview has disbursed over INR 12,000 crore in loans to date. The company offers a wide range of financial products, including personal and home loans, credit cards, motor insurance, and loans against property, through its own NBFC, Whizdm Finance, and partnerships with institutions like DMI Finance, Northern Arc, and Oxyzo.
In 2024, Moneyview joins a growing list of startups such as Krutrim, Perfios, Porter, Rapido, and Ather in achieving unicorn status.
