Money View in talks to raise $150 million in Series E funding led by Apis Partners

• ByStartupStory     |    October 27, 2022

Money View, a Bengaluru-based company, is said to be in discussion to raise $150 million in a new round of equity funding at a post-money valuation of more than $1 billion. In March 2022, it raised $75 million in a Series D round of funding. Tiger Global, Accel, Winter Capital, Evolvence India, and others participated in the Series D round.

The current Series E round is being led by private equity firm Apis Partners. Money View did not respond to inquiries until the time of publication of this news report.

Apis is expected to lead the round with an investment of approximately $65 million, with the remainder of the corpus coming from internal investors and private equity funds. The new round could value the company at $900 million to $925 million pre-money and more than $1 billion post-money.

The company plans to expand its product portfolio and launch services including digital bank openings, insurance, and wealth management solutions. The company is expected to use the fresh corpus to bolster its foray into some of these categories, while also building capital to apply for regulatory licenses, an individual aware of the company’s plans said.

Money View, which was founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, provides a suite of personalized credit products including instant personal loans ranging from Rs 10,000 to Rs 5 lakh, cards, buy now pay later (BNPL), and personal finance management solutions. For its credit offering, the company has collaborated with over 15 financial institutions.

For the fiscal year 2022, the startup claims an annualized revenue run rate of Rs 600 crore.

“Given the recent change in guidelines for digital lenders, most of these companies will need to shore up capital for the short term and ensure that they ride through any liquidity requirements that may arise,” said a source. “In Money View’s case, it’s profitable and a well-performing book which comes out as an exception, and hence there could be strong equity interest.”

Money View’s latest round also comes as the Reserve Bank of India (RBI) advances to formalize regulation of the fast-growing digital lending sector, with fintech expected to comply by November 30.

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