MoneyView Success Story: How Two IITians made smart financial solutions into a Unicorn

Moneyview, your personal money buddy, was founded in 2014 by Sanjay Aggarwal and Puneet Agarwal, who were friends from IIT. It tracks everything from bills to travel expenses and sends timely reminders for payments. Plus, it even offers loans. What more could you need in one app?

Read this article to explore the inspiring MoneyView success story and know how two IITians revolutionized personal finance!

MoneyView Success Story: Company Highlights

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About Moneyview

Having trouble with your budget? You can effortlessly handle your funds with Moneyview’s help. Launched in 2014, it’s a personal finance app that makes tracking expenses and budgeting simple, secure, and smart.

Moneyview automatically scans your bank and card messages to give you a clear picture of your spending. It also tracks bills and sends reminders to help you pay on time. Recently, the app added personal loans as well.

With features like daily expense tracking and bill reminders, Moneyview helps you stay on top of your finances without the hassle.

Currently available in six languages—Bengali, Tamil, Telugu, Gujarati, Hindi, and Kannada—Moneyview has over 10 million users.The app uses strong encryption to keep your data safe.

MoneyView Success Story – Business & Revenue Model

Moneyview, created by Sanjay and Puneet Agarwal, aims to become a trusted personal finance app. The app helps users manage their expenses and will soon offer investment suggestions.

The app is free to use and doesn’t have a fixed revenue model but tracks growth month by month Moneyview introduced the Green Account in 2016 along with ICICI Prudential Mutual Fund, enabling users to make investments via the app. Moneyview earns a commission on each investment.

Moneyview – Founders and Team

Moneyview was founded in 2014 by IIT alumni Sanjay Aggarwal and Puneet Agarwal.

Puneet Agarwal

Puneet graduated from IIT Delhi in 1995 and later earned an MBA from Purdue University He worked at Google, Capital One, and McKinsey. He has over 7 years of experience as an entrepreneur and invests in startups.

Sanjay Aggarwal

Sanjay, an IIT Delhi graduate (1993), has worked at companies like Ciena and Yahoo. He also founded Minglebox, an education portal, in 2006.

Moneyview has a team of 201-500 employees and focuses on offering simple financial solutions while keeping data secure.

Moneyview App – Key Features

1. Track Your Money: The app shows all your financial accounts, like bank accounts, credit cards, and loans. It tells you how much you have left to spend.
2. See Your Spending: Moneyview automatically organizes your expenses, so you can see how much you’ve spent on things like food, rent, and shopping.
3. Budget Tools: The app helps you set a budget and track it throughout the month, showing how much more you can spend.

Moneyview keeps your data safe with 256-bit encryption and only scans transaction messages, not your OTP or personal details.

Moneyview – Competitors

Moneyview competes with other finance apps like Walnut (for tracking expenses), Smartspends, Gullak (with 1 million+ downloads), and MyUniverse.

The competition is becoming stronger as more apps enter the market. Moneyview also faces competition from lending platforms like Faircent, Lendingkart, and Capital Float. It will be interesting to see how Moneyview stands out and adds value for users.

Moneyview’s – Awards and Achievements

• Ranked as the Best App of 2015 by Google, India.
• Runner-up in the IBM Startup Challenge.
• Listed in SutraHR’s list of the “Top 100 Startups in India 2018.”

The future plans of Money View

Moneyview aims to manage $1 billion in assets over the next 12 months. The company is also focused on increasing its profitability in the upcoming fiscal year.

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Wrapping Up

Moneyview has successfully transformed the personal finance landscape in India, offering a seamless solution for expense tracking, budgeting, and personal loans. Founded by IIT alumni Puneet Agarwal and Sanjay Aggarwal, the app caters to over 10 million users and has earned its place as a fintech unicorn with a valuation of $1.2 billion. With robust encryption, multilingual support, and continuous innovation, Moneyview stands out in a competitive market. As the company looks to manage $1 billion in assets and expand its profitability, its future is set for continued growth and success.

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