Moneyview, a digital lender, announced that it had acquired Jify.co, a provider of on-demand or early salary services, after reportedly achieving a $1 billion valuation.
Moneyview’s board has approved a special resolution to raise Rs 38.64 crore through the issuance of 60,23,382 equity shares, each priced at Rs 64.15, as per filings from the Registrar of Companies.
The report stated that Accel India has invested Rs 29 crore and Nexus Ventures has contributed Rs 19 crore. The cost of acquiring Jify.co, which is also financed by Accel and Nexus, was not disclosed by Moneyview.
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Jify enables employees to access a portion of their earned compensation prior to the official payday. The platform also offers features such as a Jify Salary and Benefits Card, which offers cashback and rewards for purchases, as well as options for micro-savings, such as investing in digital gold.
Puneet Agarwal, Co-founder and CEO, Moneyview, said: “We are excited to welcome Anisha, Anusha, Aditya, and the entire Jify team to the Moneyview family,”
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