Moneyview forays into Earned Wage Access
FinTech BizNews Service
Mumbai, September 12, 2024: Moneyview, a leading financial services platform, today announced the acquisition of Jify.co, a cutting-edge platform that enables employees to access their earnings on demand, fostering financial independence and security. This strategic 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 organizations. The acquisition also marks a significant milestone in Moneyview’s ongoing expansion into a diverse range of financial products ranging from credit to savings & investment products catering to every Indian with a smartphone.
Jify’s core mission has been to provide India’s salaried workforce - 70% of whom live paycheck-to-paycheck - with real-time access to their salary. This helps reduce their dependence on high-cost credit options and informal loans, which often leads to significant financial and mental stress. With the strategic support of Moneyview, Jify is now positioned to scale more efficiently, and enable a larger set of employers to deliver holistic solutions to employees across the country.
The coming together of powerhouse Moneyview, with a decade of experience in financial services and strong economic fundamentals, with Jify.co that services over 250+ blue-chip corporate with millions of employees, will deepen inclusion for the financially-underserved Indian consumer, through a suite of products like personal credit, UPI, insurance, savings, home loans and loans against property, amongst others. The acquisition involved share swap whereby Accel and Nexus the existing investors of Jify were allotted shares of Moneyview.
Puneet Agarwal, Co-founder & CEO, Moneyview stated, "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. The acquisition of Jify is a significant step in this journey. 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. We are excited to welcome Anisha, Anusha, Aditya and the entire Jify team to the Moneyview family”.
Anisha Dossa, Co-founder & CEO, Jify.co stated, “Moneyview, with it’s range of financial solutions spanning credit, personal finance, insurance, and savings products, will enable Jify to serve over 10 million employees within the next two years and establish ourselves as the premier employee financial wellness platform for salaried individuals. We are thrilled to partner with Moneyview and look forward to creating a tremendous impact on financial inclusion.”
