Indian fintech Money View valued at $900 million in new fundingIndian fintech Money View valued at $900 million in new fundingGiphy GIFGiphy GIF

Indian fintech Money View valued at $900 million in new funding

Indian fintech Money View said on Monday it has raised $75 million in a new funding round, its second this year, despite ...
...the market slump as it looks to scale its core credit business and build more products in the South Asian market.
Apis Partners led Money View’s Series E funding round, valuing the Bengaluru-headquartered startup at $900 million, up from $615 million in a $75 million Series D funding round in March.
The startup said in a statement that the round hasn’t closed and it expects to raise more capital. Money View is currently ...
...disbursing about $1.2 billion in loans, at an annualized-basis, and managing over $800 million, it said.
The startup, which says it has been profitable for the past two years, clocked a revenue of $30.6 million and a profit of $2.14 million in the financial year that ended in March, according to regulatory disclosure.
“Our performance and growth over the past two years has allowed us to drive our mission of true financial inclusion ... India with great success,” said Puneet Agarwal, founder and chief executive of Money View, in a statement.
“We are thrilled to have Apis Partners join us in our journey and with their support, we look forward to becoming India’s leading online credit platform with innovative and holistic financial solutions.”
Its new funding comes at a time when the dealflow activity has slowed down dramatically in the South Asian market as investors grow ...
...cautious of writing new checks and evaluate their underwriting models after valuations of publicly listed firms take a tumble.
“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 ... partner with the company at this stage of its journey,” said Matteo Stefanel, Co-founder and Managing Partner at Apis Partners, in a statement.