Tiger Global backs lending platform Money View in $75 million Series D funding

Representative image.

Bengaluru-based lending fintech Money View has raised $75 million in a Series D round which has taken the company's valuation to $625 million, as fintech players continue to attract investor interest amidst the rapid digitisation of financial services.

Tiger Global, Winter Capital, Evolvence India, Accel along with other investors including South Park Commons, Trusted Insight and Dream Incubator participated in the round, the company said on March 9.

Founded in 2014 by IIT Delhi alumni Puneet Agarwal and Sanjay Aggarwal, the company offers personalised credit products like instant personal loans, cards, BNPL and personal financial management solutions and has partnered with over 15 financial institutions to offer credit/financial products on its platform.

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The fresh funding will be used as growth capital to scale the core credit business, grow the team, and expand its product portfolio with services like digital bank accounts, insurance, and wealth management solutions, the company said in a statement.

Co-founder Puneet Agarwal is also an investor in early-stage startups, and previously worked with Madura Micro Finance and Google. For Sanjay Aggarwal, this is his second startup after founding minglebox.com in 2006. Aggarwal previously worked with Yahoo and Ciena Corporation.

Money View's app has over a million downloads and has over 200 million customers. 75 percent of the company's users come from Tier II and III cities. The company’s proprietary data models provide a 360-degree risk assessment, enabling credit for the underserved segments.

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The company said that it had grown by four times in the past year as compared to the previous year and continues to be profitable. The company is disbursing loans at an annualised run rate of $700 million and is on a trajectory to reach $1 billion in Assets Under Management (AUM) over the next 12 months.

The Raine Group was the exclusive financial advisor to Money View for this round.