Celebrating Moneyview’s IPO: Expanding Credit Access for Bharat

Moneyview lists today. Twelve years ago, it was two people, an idea and a product demo.

Puneet and Sanjay tapped into the one financial record almost every phone owner already had– their SMS inbox. They turned it into a full financial profile. The amount of data they had pulled together, and how much of the product already worked, was enough for Accel to invest before the product even launched.

Our early board meetings happened on the Accel terrace, and they were less governance, more brainstorming, usually about whatever technical problem was in front of us that week. An iOS app was still a someday project as 95 percent of users were on Android, and that is where the early product thinking happened.

We already had conviction on the segment, having invested before in top-of-pyramid products. Moneyview chose the widest and least-served part of the market: households earning roughly ₹3-11 lakh a year. They went app-only, no physical footprint, pan-India from the outset. Distribution mattered as much as underwriting. Today the app reaches 99.55 percent of India’s PIN codes without a single branch, and four in five users come from tier 2 cities and smaller towns.

The team started with personal finance, which was useful to customers before asking anything of them. Lending followed deliberately in FY17. First attention, then data, then trust. I have always thought of Moneyview less as a lending business and more as a consumer business that happens to lend.

Moneyview’s major milestones from 2014 through 2026

When lending came, Moneyview made a decision most of the market disagreed with. The market favoured small, short, high-frequency loans. Moneyview went long: bigger loans, better borrowers and tenures of 12 to 60 months. The belief was that a customer new to credit could prove as reliable as one with an established score.

A five-year loan leaves no room for a bad decision, so the underwriting had to be right from day one. It has been. The models assess more than 100,000 variables and clear close to 200,000 applications a day. The annualised loss rate is lower than that of established lenders and everything else was built to protect the underwriting.

Moneyview ran what the industry now calls the lending service provider model years before the term existed. It originates loans across 48 financial partners, 22 of which fund personal loans. It also built its own non-banking financial company, Whizdm Finance, so it would not depend entirely on partners for its cost of funds. Moneyview has been profitable since FY22, with ₹22,520 crore in assets under management as of June 2026.

More than 140 million people have registered on Moneyview since that first demo. Its associated financial products, along with the flagship lending business, have served 11.9 million of them. Since August 2024, Moneyview has expanded into credit cards, home loans, loans against property, insurance and digital gold. Each is a new way to meet the growing needs of the same users.

More than a decade on, the category is starting to reach the public markets, and Moneyview gets there as the largest full-stack digital lending platform in India by AUM.

Congratulations, Puneet and Sanjay, and everyone at Moneyview. You have shown how a little credit can go a long way.