Moneyview Becomes Unicorn After Funding from Accel and Nexus

Bengaluru-based fintech start-up Moneyview has officially joined the unicorn club with a valuation of $1.2 billion following its recent funding round led by Accel India and Nexus Venture Partners, which further expanded by acquiring Jify. The company, known for providing personal loans and credit score tracking, raised $4.65 million by issuing over 6 million equity shares at INR 64.15 each. This move signals Moneyview’s growing influence in the financial sector.

Moneyview, Expansion and Acquisition of Jify

As part of its growth strategy, Moneyview acquired fellow fintech start-up Jify, which offers employees on-demand access to their salaries. The acquisition was structured through a share swap agreement, bringing Jify’s investors, Accel India and Nexus Venture Partners, onboard Moneyview. This deal allows Moneyview to extend its services to Jify’s customer base. It offers a broader range of financial products, including home loans and credit against property.

Since its inception in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview has seen impressive financial growth. In FY23, the company posted revenues of INR 577 crore, a 2.6x jump from the previous year. Profits skyrocketed 27 times to INR 163 crore, compared to INR 6 crore in FY22. This growth has positioned Moneyview as a strong player in India’s fintech space, competing with platforms like Kissht, Branch, and CASHe.

Unicorn Surge in 2024

Moneyview’s unicorn status reflects a broader trend in India’s start-up ecosystem. In 2023, only two companies—Zepto and InCred Finance—achieved unicorn status. However, 2024 has already seen six start-ups cross the billion-dollar valuation mark, including Krutrim, Perfios, Porter, Rapdio, and Ather. Increased trust in private markets and intense funding activity have been key drivers behind this surge.

Moneyview continues to seek additional capital, planning to raise INR 250 crore through non-convertible debentures (NCDs) via private placements. With its robust growth trajectory and strategic acquisitions, the company is well-positioned to dominate India’s financial services landscape.

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