ZestMoney

ZestMoney

ZestMoney is an Indian fin-tech company that specialises in consumer lending.

ZestMoney is based out of Bangalore and was launched in 2016. Founded by Lizzie Chapman, Priya Sharma and Ashish Anantharaman, ZestMoney is a digital lending platform. As of March 2019, the company claims to have 5 million consumers on its platform.

History

In January 2016, ZestMoney was officially launched with Overcart as its first merchant partner.

Product & Services

ZestMoney's platform enables instant approval and disbursal of small ticket loans. ZestMoney builds a risk profile for every consumer who applies for a loan on its platform. For new-to-credit customers, where there is no formal credit bureau data, the company asks such borrowers to submit additional data points for their engine to analyse and provide a loan.

Consumer Loans & Personal Loans

Once a user signs up on ZestMoney, the company will assess the risk of that consumer in real time and then provide a credit limit, which can be used by the consumer across any of their partner merchants to make their purchase. The availed loan amount can then be paid back in flexible EMIs.

ZestMoney is a cardless EMI partner for Amazon, Flipkart, Xiaomi and a few other merchants in India. It is also one of the cardless EMI options accepted by some payment gateways in the country.

Funding

By March 2019, ZestMoney had raised $22 million in three financing rounds. Investors include Xiaomi, PayU, Ribbit Capital, Naspers Fintech and Omidyar Networks. In January 2019, the company had announced that it has raised an undisclosed investment from venture debt fund Alteria Capital.

Timeline

April 23, 2019

ZestMoney raises a $20 million Series B.

The round is led by Quona Capital. Other participation from Reinventure, Coinbase, Ribbit Capital, Omidyar Network and Naspers. The round takes ZestMoney to $42 million to date.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
ZestMoney Series B round, December 2019
15,000,000
December 19, 2019
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People

Name
Role
LinkedIn

Akhilesh Gupta. A

Employee

Anuran Mohanty

Employee

Arnoldas Gudas

Employee

Arun Venkatachalam

Investor

Ashish Anantharaman

Founder

Elizabeth Chapman

Founder

Manish Kumar

Employee

Mehak Mahajan

Employee

Moses A

Employee

Natalia Lyarskaya

Employee

Neha Sahi

Employee

Nelson Holzner

Investor

Nikhil Yadav

Employee

Nithin Kumar

Employee

Prateeksha Satyamoorthy

Employee

Priya Sharma

Founder

Pushpa Singh

Employee

Rajasekhar Reddy

Employee

Ravi Petlur

Employee

S K Prasad Iyer

Employee

Saurabh Jain

Employee

Shayna Arora

Employee

Shine Khajuria

Employee

Shruthi Narayan

Employee

Surabhi Purwar

Employee

Further reading

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Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Peerzada Abrar
July 27, 2020
@bsindia
ZestMoney is now integrated on Google Pay digital stores Spot platform to offer credit to customers
Manish Singh
December 19, 2019
TechCrunch
One of America's largest banks has just poured some money to help millions of Indians without a credit score secure loans and make purchases online for the first time in their lives. Bangalore-based ZestMoney announced today it has raised $15 million from Goldman Sachs and existing investors Naspers Fintech, Quona Capital, and Omidyar Network. Lizzie Chapman, [...]
Jon Russell
April 23, 2019
TechCrunch
Fintech is very much still hot in Asia. ZestMoney, a startup that helps consumers with no credit history get loans to buy online, announced today it has raised a $20 million Series B. The round is led by Quona Capital, a stealthy Washington-based fund that invests in emerging market fintech and has an office in [...]

References

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