Consumer lending platform Moneyview is ready to join the IPO momentum, moving closer to its initial public offering after passing a resolution to convert into a public company.
- Moneyview IPO Plans: Fintech unicorn Moneyview to raise $400 million via IPO, converting into a public company.
- Strong Financial Growth: Moneyview reports 75 percent YoY revenue surge to Rs. 1,012 crore with Rs. 171 crore in profit for FY24.
- Fintech IPO Momentum: Joins peers like Razorpay, KreditBee, and Pine Labs in India’s growing fintech IPO wave.
Moneyview recently changed its parent company's name from "Whizdm Innovations Private Limited" to "Moneyview Private Limited."
Now, in yet another step toward IPO plans, the board has passed a special resolution to convert the company into a public entity and call it "Moneyview Limited." According to media reports, the fintech unicorn is looking to raise over $400 million (around Rs 3,400 crore) through its initial public offering (IPO) and has also appointed Axis Capital, Kotak Mahindra, among others, as its banking partners.
Moneyview was founded in 2014, and provides instant loans, credit cards, BNPL, and financial management tools, in partnership with over 15 institutions.
Bengaluru-based startup Moneyview has raised over $230 million in multiple rounds from investors including Accel, Tiger Global, and Ribbit Capital, according to startup data platform TheKredible.
The Tiger Global-backed company achieved unicorn status in September last year when it raised $4.6 million in a round led by Accel, together with Nexus Venture Partners.
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Moneyview's operating revenue for the financial year ended March 2024 surged over 75% to Rs 1,012 crore, up from Rs 577 crore in FY23. The company also reported a profit of Rs 171 crore for the same period.
Moneyview is one of a growing number of fintechs poised to go public including Pine Labs and Razorpay, the latter of which has completed its transition to being a public entity and is paying over $150 million in taxes to change its domicile to India. Another lending platform, KreditBee, is also in the process of moving its domicile to India.
