Moneyview Moves Closer to IPO with Public Company Conversion

Bengaluru – Fintech unicorn Moneyview has taken a key step towards its anticipated public listing, with the board approving a resolution to convert the company into a public limited entity. This development positions the consumer lending platform to formally launch its initial public offering (IPO) process in the near future.

The company recently updated its corporate identity, changing its parent firm’s name from Whizdm Innovations Private Limited to Moneyview Private Limited. Now, with the latest board resolution, it will transition to Moneyview Limited, marking a structural shift in line with its IPO ambitions.

According to media reports, the firm is aiming to raise over $400 million (approximately ₹3,400 crore) through its IPO and has brought on board Axis Capital, Kotak Mahindra, and other institutions as banking partners to facilitate the offering.

Founded in 2014, Moneyview provides a suite of consumer financial products, including instant loans, credit cards, buy now, pay later (BNPL) services, and personal finance management tools, partnering with over 15 financial institutions to deliver these offerings.

Data from startup intelligence platform TheKredible indicates that the Bengaluru-headquartered company has secured more than $230 million across funding rounds from investors such as Accel, Tiger Global, and Ribbit Capital.

Moneyview entered the coveted unicorn club in September 2023, following a $4.6 million fundraise from Accel and Nexus Venture Partners, as first reported by Entrackr.

Financially, the company has demonstrated strong growth. For the fiscal year ending March 2024, Moneyview’s operating revenue surged over 75% to reach ₹1,012 crore, compared to ₹577 crore in FY23. It also reported a net profit of ₹171 crore for the same period, reflecting both scale and profitability ahead of its public debut.

Moneyview is part of a rising wave of Indian fintech firms progressing toward public markets. Companies like Pine Labs and Razorpay have already transitioned to public entities, with the latter reportedly paying over $150 million in taxes to re-domicile in India. Another digital lending startup, KreditBee, is also in the process of shifting its base back to India to align with regulatory and investor expectations.

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