The Indian fintech industry is going to witness another major public issue. You’ve likely heard of Moneyview, a company that offers loans through its mobile application. This Bengaluru-based fintech company, which is also one of the fastest-growing digital lending platforms in India, has filed its DRHP with the Securities and Exchange Board of India (SEBI). Moneyview IPO aims to raise fresh capital and provide its PE investors with an exit opportunity.
Moneyview IPO: Business Overview
Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview has positioned itself as a “credit-led financial services platform for Middle India.” The company’s mobile application provides a full suite of financial products—personal loans, credit cards, insurance, earned wage access, digital gold, and UPI transactions—through a purely digital, paperless journey, eliminating the need for any physical branches. This technology-first approach is not just a branding exercise: more than half of its workforce is engaged in technology and data roles, and AI/ML models analyze over 1,00,000 variables to assess creditworthiness, personalize product offers, and automate risk management.
Moneyview’s core demographic is “Middle India” households (annual income INR 3–11 lakh), a segment that is digitally savvy, aspirational, and under-served by traditional banks. Nearly 80% of its monetized users reside in Tier 2 and smaller towns, and the average age of these users is just 32. As of 31 December 2025, the platform had 12.55 crore registered users and 97.3 lakh monetized users—a testament to its scale and digital reach.
A Hybrid Lending Model: Platform Partner and NBFC Subsidiary
Moneyview operates as a Loan Service Provider (LSP), facilitating loans through two channels:
- Platform Partners: Banks and NBFCs integrated onto Moneyview’s platform. Here, Moneyview earns fees for origination and servicing, and shares in the credit risk via default loss guarantees (DLG), capped at 5% of the loan book.
- Own Balance Sheet Lending: Through its NBFC subsidiary WFPL, Moneyview directly lends and earns interest margin, while bearing the entire credit risk.
This dual-channel approach allows the company to scale its lending rapidly while managing risk. It also reflects a capital-light strategy, enabling high growth with limited balance sheet exposure.
Moneyview IPO: Financial Performance
| Metric | FY23 | FY24 | FY25 | 9M FY25 |
|---|---|---|---|---|
| Loan Disbursals | 8,274.23 | 14,527.16 | 17,621.12 | 16,299.54 |
| Managed AUM | 7,644.05 | 12,884.83 | 16,715.14 | 19,814.82 |
| Total Revenue from Operations | 648.09 | 1,342.37 | 2,373.30 | 2,339.15 |
| Net Profit | 162.57 | 171.15 | 240.28 | 209.74 |
| Return on Equity (%) | — | 11.72 | 13.63 | 15.98* |
| EPS – Diluted (₹) | 1.23 | 1.19 | 1.58 | 1.36* |
Moneyview Shareholding Structure: Strong Institutional Backing
Moneyview shareholding structure has a large number of global fintech investors:
- Accel India IV (Mauritius) Limited: 14.7% (fully diluted)
- Internet Fund III (Tiger Global): 13.8%
- Ribbit Capital: 10.2%
- Apis Growth II (Mimosa): 6.6%
- Promoters (Puneet Agarwal, Sanjay Aggarwal): Over 19%
Moneyview IPO Structure & Use of Funds
Moneyview IPO will include:
- Fresh Issue: Up to INR 1,500 crore, primarily to fund loan disbursal growth (INR 650 crore earmarked for DLG arrangements), and augment the NBFC subsidiary’s capital (INR 450 crore), with the rest for general corporate purposes.
- Offer for Sale: Up to 13.61 crore shares, giving early investors and promoters a partial exit.
Book running lead managers include Axis Capital, BofA Securities, IIFL Capital Services, and Kotak Mahindra Capital, while MUFG Intime India (formerly Link Intime) acts as registrar.
Conclusion
Moneyview IPO filing comes at a time when investor interest in NBFCs is growing, with digital lending providing further impetus to the sector. The company’s financial performance has been strong, and its rapidly expanding scale presents an attractive growth story. However, as with any fintech IPO, investors should weigh the risks of credit losses, regulatory flux, and stiff competition.
Moneyview, like platform Kissht, has secured IPO approval while Navi Finserv is also exploring an IPO. So, it becomes crucial to see Kissht’s IPO performance. This will be a benchmark for this kind of IPO.