BENGALURU: Financial services platform Moneyview has turned unicorn and the valuation assessment (of over USD 1 billion) is part of a share swap acquisition. Moneyview said this is not an independent fundraiser.
Bengaluru-headquartered financial services company on Thursday announced the acquisition of Jify.co, a platform that enables employees to access their earnings on demand.
Jify.co services over 250 blue-chip corporates with millions of employees, and the acquisition involved a share swap whereby Accel and Nexus, the existing investors of Jify, were allotted shares of Moneyview.
This acquisition is set to strengthen Moneyview’s comprehensive suite of financial services while enabling Jify to scale its offerings to a wider network of employees and organisations, the company said.
The acquisition also marks a milestone in Moneyview’s ongoing expansion into a diverse range of financial products ranging from credit to savings & investment products.
Puneet Agarwal, Co-founder & CEO of Moneyview said, "We are committed to providing solutions that empower Indians not only to access personal finance but also to manage their income and investments more effectively. We are eager to use this collaboration as a way to strengthen and grow the strong customer base that Jify caters to and take it to new heights."
As we move ahead, we will continue to bring more such solutions that will enable our current and prospective users to manage all their financial needs under one roof, he added.
Founded by Puneet Agarwal and Sanjay Aggarwal in 2014, Moneyview is backed by investors like Apis Partners, Tiger Global, Accel Partners, and Ribbit, among others.