Fintech firm Money View raises $75 mn to scale core credit biz

Bengaluru, Dec 26 (IANS) Fintech company Money View on Monday announced it has raised $75 million in its ongoing Series E funding led by UK-based asset manager Apis Partners, at a valuation of $900 million.

With over 40 million app downloads, the company is currently operating at an annualised disbursal run rate of $1.2 billion, managing assets under management (AUMs) of over $800 million.

The current funding also saw participation from Tiger Global, Winter Capital and Evolvence.

"Our performance and growth over the past two years has allowed us to drive our mission of true financial inclusion in India with great success," said Puneet Agarwal, CEO of Money View.

The funds, said the company, will be used as growth capital to scale the core credit business, grow the team, and expand its product portfolio with services such as digital bank accounts, insurance, and wealth management solutions in order to solidify its leadership position.

"Money View has achieved great success already, with their credit products democratising the access for millions of customers in India, and we are truly excited to partner with the company at this stage of its journey" said Matteo Stefanel, Co-founder and Managing Partner at Apis Partners.

Money View has been unit economic positive since inception and has been profitable for the past two years.