Bengaluru-based fintech unicorn Moneyview has initiated steps toward a significant public offering, aiming to raise approximately ₹3,400 crore (over $400 million) through its Initial Public Offering (IPO). The company has appointed Axis Capital and Kotak Mahindra Capital Company as lead bankers for this endeavor.
Company Overview
Founded in 2014 by Sanjay Aggarwal and Puneet Agarwal, Moneyview offers a suite of financial products, including personal and home loans, credit cards, credit score tracking, motor insurance, and loans against property. The company achieved unicorn status in September 2024 after securing funding from Accel and Nexus Venture Partners, reaching a valuation of $1.2 billion.
Financial Performance
In the fiscal year 2024, Moneyview reported a 75% increase in revenue, reaching ₹1,012 crore, up from ₹577 crore in the previous year. The profit after tax saw a slight rise to ₹171 crore from ₹163 crore in FY23. Personal loans constitute the majority of the company’s income.
Strategic Moves and Market Position
Moneyview’s decision to go public aligns with a broader trend among Indian fintech firms seeking to establish credibility and secure equity to support lending operations. The company has also ventured into the Unified Payments Interface (UPI) market, competing with established players like PhonePe and Paytm. mint
Industry Context
The fintech sector in India is witnessing a surge in IPO activities, with companies like KreditBee, Kissht, and Turtlemint also exploring public listings. This wave of IPOs reflects the industry’s maturation and the need for fintech firms to bolster their capital base amid regulatory scrutiny and evolving market dynamics.
