Fintech lending platform MoneyView’s revenue surges 75% to Rs 1012 Cr in FY24

Digital lender MoneyView has reported a sharp 75% year-on-year increase in revenue to Rs 1,012 crore for the fiscal year ended March 31, 2024, compared to Rs 577 crore earned in the previous year.

The Tiger Global-backed company’s profit saw a modest uptick to Rs 171 crore in FY24 from Rs 163 crore last year. Total income surged 105%, reaching Rs 1,389 crore, compared to Rs 677 crore in FY23.

Total expenses rose to Rs 1,190 crore for FY24, from Rs 515 crore in the previous year, financial statements filed by the company showed. The startup’s employee benefit expenses in FY24 increased to Rs 157 crore from Rs 124 crore in the corresponding year.

Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, MoneyView offers a wide range of credit products, including instant personal loans, credit cards, buy now pay later (BNPL) services, and personal financial management solutions. The platform has collaborated with over 15 financial institutions to provide these offerings to its customers.

In 2022, MoneyView raised $75 million in a Series E funding round led by Apis Partners, a UK-based asset manager, at a valuation of $900 million. Existing investors Tiger Global, Winter Capital, and Evolvence also participated in the funding round.

In September, Moneyview acquired on-demand salary service provider Jify.co after reportedly clinching a $1-billion valuation.