Online financial services provider, Money View has raised $75 million in a fresh funding round led by Tiger Global, Winter Capital, Evolvence India, and Accel.
In this funding round other investors including South Park Commons, Trusted Insight and Dream Incubator also participated.
The last time the company raised Rs 100 crore was in December 2018, in which Accel participated as part of the round.
Money View plans to use the funds as growth capital to scale the core credit business, grow the team, and expand its product portfolio with services like digital bank account, insurance and wealth management solutions.
Benguluru based fintechstartup Money View was founded in 2014 by two IIT friends, Sanjay Aggarwal and Puneet Agarwal.
Money View provide loans ranging from INR.10,000 to INR 5,00,000 to its user within a day or less. The application pulls data about banking, bills and expenses from the SMS box of the client. Through its platform, it provides the user with a view of their bank balance, income expenditure and income dues.
The company claims that the Money View app is getting over 1 million downloads every month and caters to 200 million users. In addition, 75% of its total users come from Tier 2 and 3 cities.
Tiger Global has been bullish on the lending segment in India in the past one year. In June of last year, it backed Sequoia-backed ProgCap, which provides loans to retailers. It also invested in M2P fintech, a fintech and banking infrastructure provider. Tiger’s neo-banking portfolio in India also includes Jupiter and Neo.
