ZestMoney, an Indian ‘buy now, pay later’ platform, raised $50 million from Australian peer Zip Co Ltd. as part of its Series C funding round, at a time when BNPL solutions are gaining traction among consumers at home and abroad.
ZestMoney will use the capital to expand its product suite, deepen the merchant network, strengthen its balance sheet and launch new business lines in insurance and savings.
Company: Camden Town Technologies Pvt. Ltd.
Round: Series C
Funding Month: September 2021
Lead Investors: Zip Co Ltd
Company Website: https://www.zestmoney.in/
Software Category: ‘buy now, pay later’ platform
About the Company: Founded in 2015 by Priya Sharma, Ashish Anantharaman, and Lizzie Chapman, ZestMoney uses artificial intelligence and machine learning to onboard customers, offering them BNPL plans of ticket sizes Rs 50 to Rs 5 lakh payable over 30 days to 24 months. It has partnered with 25 banks and non-banking lenders for BNPL solutions and provides credit information, financial counseling, and options to help users build a good credit history.