Moneyview Joins Unicorn Club After Fresh Capital Raise, Bolsters Services with Jify Acquisition With this acquisition, Moneyview aims to expand its financial services by integrating employee-focused solutions and enhancing its credit, savings, and investment offerings.

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

Moneyview, a consumer lending platform, has achieved unicorn status following a new funding round from existing investors, Accel India and Nexus Ventures.

The company issued 60,23,382 equity shares at an issue price of INR 64.15 each, raising INR 38.64 crore (approximately USD 4.65 million), according to regulatory filings from the Registrar of Companies (RoC).

Accel India contributed INR 29 crore, while Nexus Ventures added INR 19 crore. With this ongoing round, Moneyview is likely to raise additional capital in the coming months, further strengthening its financial position.

Following this latest allotment, Moneyview's post-valuation stands at INR 10,086 crore, or USD 1.2 billion, according to data from startup intelligence platform TheKredible. This marks a significant leap from its December 2022 valuation of USD 900 million when Tiger Global led a USD 75 million funding round.

In addition to its latest valuation milestone, Moneyview has also expanded its portfolio through the acquisition of Mumbai-based employee benefit startup Jify. Jify offers a zero-cost, real-time salary advance platform for employees, giving them on-demand access to their earnings.

Jify had raised USD 10 million in funding from Accel and Nexus Venture Partners in June last year and counts investors such as Amica Financial Technologies, VCAPL, and Qed Innovation Labs among its backers. The acquisition was executed via a share swap, where Accel and Nexus, Jify's existing investors, were allotted shares in Moneyview.

With this acquisition, Moneyview aims to expand its financial services by integrating employee-focused solutions and enhancing its credit, savings, and investment offerings. This move will deepen the platform's reach into the underserved workforce.

Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview has disbursed over INR 12,000 crore in loans to date. The company offers a wide range of financial products, including personal and home loans, credit cards, motor insurance, and loans against property, through its own NBFC, Whizdm Finance, and partnerships with institutions like DMI Finance, Northern Arc, and Oxyzo.

In 2024, Moneyview joins a growing list of startups such as Krutrim, Perfios, Porter, Rapido, and Ather in achieving unicorn status.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

News and Trends

How to Start a Business in IT

Today's digital economy puts technology at the heart of nearly every organization, from construction to fashion. That reality opens a world of opportunity for founders who bring fresh ideas, niche expertise, and customer-focused solutions to market.

Side Hustle

Use This AI-Powered Platform to Turn Your Side Hustle into a Scalable Business

Turn a side hustle into something sustainable with Sellful's ERP White Label plan.

Side Hustle

After a 12-Year-Old's Side Hustle Made Over $4,000 in 1 Day, He and His Dad Grew the Business to Nearly $50,000 a Month: 'It Takes Commitment'

Madden Forrest and his father, Steven, turned their passion for football into a lucrative business.

News and Trends

SarvaGram Raises INR 565 Crore in Series D; Doubles Valuation to INR 1,785 Crore

SarvaGram's board approved the issuance of 21,857 Series D compulsorily convertible preference shares (CCPS) and 20 equity shares at INR 2,51,431.22 per share in November 2023

Leadership

As a Leader, You Set the Tone — Here's Why Staying Calm Builds a Stronger Business

One thing I know unequivocally is that your mindset as a leader directly impacts your entire organization.