Bengaluru-based fintech startup Moneyview has reported a significant 75% growth in operating income at ₹ 1,012 Cr for FY24 as against ₹ 576.75 Cr in the previous fiscal.

The company’s net profit grew modestly by 5.2% to ₹171.15 crore despite total expenses doubling to ₹1,190.94 crore on higher employee benefits and finance costs.

Achieving unicorn status in September, Moneyview has expanded its digital lending services to 200 million users in 200 cities, primarily in tier II and III cities, and has raised over $188 million to date in financing.

Bengaluru-based fintech startup Moneyview has reported a 75% increase in operating income to INR 1,012.01 Cr for the financial year ended March 2024 (FY24) from INR 576.75 Cr in the previous fiscal.

The company also witnessed a marginal increase in net profit to INR 171.15 Cr in FY24, up 5.2% from INR 162.57 Cr in the previous fiscal.

Total expenditure doubled with a growth of 131.1% to INR 1,190.94 crore during the period under review from INR 515.34 crore in FY23. Of this, employee benefits expenditure accounted for INR 157.05 crore, while which finance costs increased to INR 127.27Mr for the fiscal year.

Moneyview has achieved the coveted unicorn status in September after raising INR 38.6 crore from Accel India and Nexus Ventures. The credit book was INR 1,960.81 till March 2024.

Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview started as a personal finance management platform before moving into digital lending in 2016.

The company currently serves 200 million users across 200 cities, with 75% of its user base coming from tier II and tier III cities. The platform supports 10 regional languages ​​including Hindi, Gujarati, Bengali, Tamil, Telugu and Kannada.

Moneyview has raised over $188 million in funding to date, including a $75 million Series E round led by Apis Partners in December 2022 at a valuation of $900 million. The company counts Tiger Global, Accel, Ribbit Capital, Winter Capital and Evolvence India among its backers.

The startup has become the sixth Indian company to achieve unicorn status in 2024, joining Krutrim, Perfios, RateGain, Ather Energy and Rapido in the unicorn club.