The eight-year-old startup offers personalized credit products and financial management solutions to customers who otherwise don’t have a credit score and so can’t avail credit from banks and other financial institutions. India’s credit bureau data book is thin, making most individuals in the South Asian market unworthy of credit.
Money View is currently disbursing about $1.2 billion in loans, at an annualized-basis, and managing over $800 million.
Money View plans to deploy the fresh funds to grow its credit business, broaden its product portfolio with services such as digital bank accounts, insurance, wealth management and hire more talent.
Its new funding comes at a time when the deal flow activity has slowed down dramatically in the South Asian market as investors grow cautious of writing new checks and evaluate their underwriting models after valuations of publicly listed firms take a tumble.
Money View has achieved great success already, with their credit products democratizing the access for millions of customers in India.