ZestMoney

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.

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

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.

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.

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.