India-based online financial services platform Money View has raised $75m in a Series E funding round led by Apis Growth Fund II, a private equity fund managed by UK-based asset management firm Apis Partners.
The funding round at a pre-money valuation of $825m saw participation from Tiger Global, Winter Capital and Evolvence.
The capital raised in the funding round is expected to be utilised as growth capital to extend the core credit business and expand the team.
Additionally, the proceeds are anticipated to help the company to expand its product portfolio with services including digital bank accounts, insurance, and wealth management solutions.
Established in 2014, Money View delivers customised credit products and personal financial management solutions.
The online financial services platform is said to be currently managing assets under management worth more than $800m and operating at an annualised disbursal run rate of $1.2bn.
Money View CEO Puneet Agarwal said: “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.
“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.”
According to Apis Partners, it will be implementing its social impact framework, the Apis Impact Management System, along with its sector-specific expertise to assist Money View in expanding its platform, creating new partnerships, and extending its product portfolio.
This is said to help Money View meet its important credit needs for a wider group of financially underserved consumers across India by offering accessible, affordable, and reasonable financial services.
Apis Partners co-founder and managing partner Matteo Stefanel said: “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.”
