Money View, an online credit lending platform located in Bengaluru, has raised $75 million in its current Series E round of fundraising led by Apis Partners, a UK-based asset management business that invests in early-stage companies.
Tiger Global, Winter Capital, and Evolvence were among the other investors in the round.
The fintech business is now valued at $900 million, up from a previous valuation of $625 million in March 2022, when it raised funds in a Series D fundraising round.
The fresh funds will be used as growth capital by the startup to scale its core credit business, increase its team, and expand its product line with services such as digital bank accounts, insurance, and wealth management solutions.
According to DealStreet Asia, Money View was looking to raise up to $150 million in the Series E deal.
According to the startup’s website, Money View currently has over 40 million app downloads and a $1.2 billion annualised disbursal run rate. It also claims to manage an AUM of more than $800 million.
Money View is a major online credit platform founded in 2014 by Puneet Agarwal and Sanjay Aggarwal that offers a full suite of tailored credit products such as fast personal loans, cards, BNPL, and personal financial management tools.
Money View provides proprietary data algorithms that give a 360-degree risk assessment, allowing lending for neglected areas and providing loans and financial management tools.
According to the company’s media announcement, Money View has been profitable for the past two years and has reached unit economic positive since its beginning.
The RBI-approved Money View is a smartphone app that provides fast personal loans ranging from $10,000 to $250,000 in just a few minutes. Its annual interest rates (APR) range from 16% to 39%, and consumers can select from a variety of adjustable EMI repayment options ranging from 3 months to 5 years.