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Lending platform “Zest Money” raises $6.5M in Series A funding round from PayUbiz and existing investors

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Zest Money is a lending platform for consumers to make ecommerce purchases

Bengaluru – Dec 08, 2016. RedNewswire/-

Mumbai-based Zest Money is a consumer digital lending platform which  partners with e-commerce companies to enable EMI financing at check-out, helping the merchants convert more customers, increase average order size and reduce cash collection cycles.

It has raised raised $6.5M in series A funding round led by Naspers-owned online payments platform PayUbiz and existing investors Ribbit CapitalOmidyar Network. Zest Money will  give 20% stake to PayU in the company.PayU has invested in ZestMoney  to grow its financial services across India.

The compnay was founed in 2015 by Priya Sharma,Ex-Head of Corporate Development, Wonga.com and Lizzie Chapman, Ex-Executive Director – Digital Bank, DBS Bank.

ZestMoney enables instant account opening and credit decision for customers transacting online, as well as fully automated loan servicing and collections technology. It has partners like Zefo, Bluestone, Valuecart, Overcart and others.

Also Read:  India ranks 109 in mobile internet speed, 76 for broadband: Ookla report

The company has earlier raised $2M seed funding in September 2015, from Ribbit Capital and Omidyar Network.

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