Ends FY22 with INR 600 Cr annual revenue run rate while being profitable
BENGALURU, India, May 18, 2022 /PRNewswire/ — Bengaluru headquartered fintech platform Money View turns profitable and ends FY22 (March’22) with an annualized revenue run rate of INR 600 Cr ($80 million). Money View has grown 4X year-over-year with strong unit economics while being profitable through FY22. The company is disbursing loans at an annualized run rate of $850 million and is on a trajectory to reach more than $1 billion AUM by the end of the year.
Co-founded by Puneet Agarwal and Sanjay Aggarwal in 2014, Money View, a leading fintech company has partnered with over 15 financial institutions to offer credit/financial products on its platform.
Puneet Agarwal, co-founder and CEO, Money View said, “In the age of cash burning businesses, we are one of the very few fintech startups to be profitable for more than a year now. With the continued growth we are experiencing, we expect to end FY23 with more than INR 1500 Cr in revenue run rate. One of the primary reasons behind Money View’s growth and profitability is the robust risk management capabilities that allows us to service a wide range of users across income range and bureau scores, while maintaining positive economics for our loans.”
India is one of the most underserved large economies when it comes to access to credit. More than 70% of the credit provided by banks is only given to the top 10% of affluent Indians. The most underserved segments are people who earn less than 5L a year. Money View aims to bridge this credit gap by providing personalized loan offers for its customers through its robust data and risk assessment model. The company’s proprietary data models provide a 360-degree risk assessment, enabling credit for the underserved segments.
About Money View
Money View caters to 200+million underserved customers who are often ignored by banks and other financial institutions for their financial needs. Anyone with a smartphone can check their eligibility by downloading the App and get the money disbursed within minutes. The app offers a frictionless user experience through a complete digital process allowing pan-Indian reach. Money View services 19000+ pincodes with 75% of the users coming from Tier 2/3.
Money View is a series-D funded company with Tier-1 investors like Tiger Global, Accel Partners, Ribbit Capital, Evolvence India and Winter Capital Partners.