ZestMoney, a consumer lending fintech company, has raised $15 million in extended series B round from Goldman Sachs and existing investors Naspers Fintech, Quona Capital, and Omidyar Network. The extended series B round brings ZestMoney’s total raise to-date to $63 million. The company was founded by Priya Sharma, Lizzie Chapman and Ashish Anantharaman in 2015.
Earlier, it had raised funding by Alteria Capital, followed by $20 million investment from Quona Capital, Ribbit Capital, Omidyar Network and PayU, in April. The company had also raised about $13.4 million in extended series A.
The company will utilize these funds in product development, forming more strategic partnerships and scale its platform to get more customers on board.
ZestMoney improve the lives of more than 300 million households in the country, who currently have no access to credit cards or any other formal financing options because of insufficient credit history. The company is expected to cross $1 billion run rate by 2021.
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