The investment round was led by private equity company Apis Partners, a UK-based asset manager that supports growth-stage financial services and financial infrastructure businesses. The round also saw participation from Tiger Global, Winter Capital, and Evolvence.
The new funds 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. Regarding securing the funding, the CEO of Moneyview declared that the company’s performance and growth over the past two years allowed it to drive its mission of true financial inclusion in India with great success, reportedly. The Indian fintech welcomes Apis Partners to join it in its journey and with their support, Moneyview looks forward to becoming an online credit platform with innovative and holistic financial solutions in India, the executive concluded.
Apis Partners was reportedly attracted by the differentiated credit solutions platform built by Moneyview and its delivering of profitability metrics. As an ESG & Impact native investor, Apis Partners will be applying its social impact framework, the Apis Impact Management System, in conjunction with its sector-specific expertise to help Moneyview continue growing its platform, building new partnerships, and diversifying its product portfolio, as part of the company’s wider purpose of serving financially underserved consumers across India, IBS Intelligence reports.
According to the co-founder and managing partner at Apis Partners, the company announced its investment in Moneyview and worked with its team throughout the process. Moneyview has reportedly achieved success with its credit products that allowed millions of Indian customers to have access to better solutions.
In March 2022, Moneyview announced that it raised USD 75 million in its series D funding from Tiger Global, Winter Capital, Evolvence India, Accel, along with other investors. The company was then valued at USD 625 million. Moneyview is an online credit platform that offers personalised credit products like instant personal loans, cards, BNPL, and personal financial management solutions. The company has partnered with over 15 financial institutions to offer credit/financial products on its platform.
Reporting over 1 million monthly app downloads, the company states that it is catering to 200+ million underserved customers who are often ignored by banks and other financial institutions for their financial needs. Money View’s digital technology and reportedly improved user experience allows pan-India reach with 75% of the users coming from Tier 2/3 cities. The company’s proprietary data models provide a 360-degree risk assessment, enabling credit for the underserved segments.
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