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Moneyview turns unicorn after acquiring Jify in a share swap deal.

Tiger Global-backed Moneyview has achieved unicorn status following its acquisition of earned wage access platform Jify in a share swap deal. This transaction resulted in Jify’s current investors, Accel and Nexus Venture Partners, receiving shares in Moneyview, which is now valued at $1.2 billion.

Based in Bengaluru, Moneyview has become the sixth Indian startup to reach a billion-dollar valuation in 2024, joining Krutrim, Perfios, Porter, Rapido, and Ather Energy.

According to CNBC-TV18, the deal did not include a new infusion of funds.

Moneyview’s latest funding round occurred in 2022, when it secured $75 million in Series-E funding at a $900 million valuation. The round was led by U.K.-based Apis Partners, with contributions from Tiger Global, Winter Capital, and Evolvence. Other notable investors include Accel and Ribbit.

Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview offers a range of financial services through its digital platform, including personal loans, financial management solutions, motor insurance, and credit trackers.

The acquisition of Jify aligns with Moneyview’s broader strategy to diversify its financial product offerings, which now span credit, savings, and investment products.

Jify partners with over 250 companies, including Hindalco, Madhura Coats, TVS Mobility, BBQ Nation, Duroflex, and Urban Company, to provide employees with the option to access a portion of their monthly salary early to address urgent financial needs.

Post-acquisition, Jify plans to enhance financial inclusion for underserved consumers in India by expanding its product suite to include personal credit, UPI, insurance, savings, home loans, and loans against property.

Moneyview will integrate Jify’s co-founders Anisha Dossa Aibara, Anusha Ramakrishnan, and Aditya Mehta, along with the entire Jify team.

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