Fintech startup Moneyview has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). This move signals the company’s intent to enter the public market and raise funds to fuel its expansion plans in the digital lending space.
The IPO includes a fresh issue of shares valued at ₹1,500 Cr and an offer for sale (OFS) of up to 13.61 Cr equity shares by existing shareholders. The net proceeds from the fresh issue will primarily be utilized to support the growth of Moneyview’s lending business.
Established in 2014, Moneyview operates a digital-first lending model specializing in unsecured personal loans for underserved and new-to-credit customers. By leveraging in-house credit scoring models and alternative data, the company assesses borrowers and generates revenue through interest income on loans disbursed and fees from partner-led loans.
Moneyview’s strategic allocation of funds from the IPO, including investments in loan disbursals and capital augmentation for its NBFC subsidiary, underscores its commitment to expanding its financial offerings and enhancing user engagement. Moreover, the company’s evolution into adjacent financial products like credit cards, Buy Now Pay Later (BNPL) services, and personal finance management tools showcases its dedication to diversifying its portfolio and enhancing customer experience.
Source: Inc42 Media