Fintech Moneyview turns unicorn, 6th one this year

MUMBAI: Fintech startup Moneyview has turned unicorn after bagging about Rs 38.6 crore ($4.6 million) in fresh funding from Accel and Nexus Venture Partners, the company's RoC filings sourced from market intelligence platform The Kredible showed.

The investment values the Bengaluru-based firm at about $1.2 billion, sources said. Moneyview declined to comment. In its last round in Dec 2022, the company had raised $75 million from investors at a valuation of $900 million.

After more than a year of a funding slump, investments in the startup space are gaining pace with venture capital funds cutting cheques for companies across sectors and sizes. Quick commerce firm Zepto has raised this year's biggest startup funding so far, bagging a total of $1 billion from investors at a valuation of $5 billion.

Moneyview joins Krutrim, Perfios, Porter, Rapido, and Ather to become the sixth unicorn this year. This compares with just two unicorns that India minted in 2023. Porter is understood to have turned unicorn in an internal round, although the company hasn't commented on the development yet.

Backed by a series of investors including Tiger Global, Moneyview provides personal loans and personal finance management solutions to consumers. In a separate statement on Thursday, Moneyview said that it has acquired Jify.co, a platform which enables employees to access their earnings on demand.