Driving Success: Moneyview's Rapid Growth and Profitability in FY23

Bengaluru-based fintech startup Moneyview has announced a significant surge in its operational revenue and profit figures for the fiscal year 2022-23. The company reported an impressive 160% growth in operating revenue, soaring from Rs 222 crore in FY22 to Rs 577 crore in FY23. Even more remarkable, Moneyview's profit skyrocketed by an astounding 2,616%, climbing from Rs 6 crore in FY22 to Rs 163 crore in FY23.

This remarkable growth trajectory follows Moneyview's successful Series E funding round in December 2022, where the company raised $75 million at a valuation of $900 million. The funding round was led by prominent investors such as Winter Capital, Tiger Global Management , Evolvence India Fund, and Apis Partners .

Established in 2014 by Puneet Agarwal and Sanjay Aggarwal , Moneyview specializes in offering personalized credit products, including instant personal loans and personal financial management solutions. The company has forged strategic partnerships with various NBFCs, including Whizdm Finance, Aditya Birla Capital, DMI Finance, and others.

According to reports, the substantial growth in revenue was primarily driven by income generated from fees and commissions on loan disbursals, supplemented by a significant contribution of Rs 100 crore in non-operating income from interest, resulting in a total income of Rs 677 crore in FY23.

Despite the impressive revenue growth, Moneyview has maintained a prudent approach to managing its expenses. The company's largest cost centers include transaction processing fees, followed by advertising and business promotion expenses. Total expenses for FY23 increased to Rs 515 crore from Rs 240 crore in FY22.

This disciplined approach to expenditure has been instrumental in enhancing the company's profitability metrics, with Return on Capital Employed (ROCE) and EBITDA margin improving to 14% and 28.2%, respectively.