– INDIA, Bangalore – ZetsMoney, the Bengaluru-based digital lending platform, has raised $13.4m financing in an extension of its Series-A round led by Chinese smartphone manufacturer Xiaomi, joined by existing investors PayU, Ribbit Capital and Omidyar Network.
ZestMoney will strengthen its technology and data science capabilities as well as expand use cases for the core ZestMoney Affordability Product.
“Xiaomi has built one of the most loved brands in India and they have a passionately consumer-focused philosophy which deeply resonated with our values as a company,” said Lizzie Chapman, cofounder, ZestMoney.
ZestMoney has already worked closely with Xiaomi to create the Mi Finance product to enable Mi customers to buy smartphones with a cardless EMI option. ZetsMoney also works with digital consumer partners including Amazon, Flipkart, UpGrad and Zefo.
Founded in 2015 by Lizzie Chapman, Priya Sharma and Ashish Anantharaman, Zest Money had raised the series-A round of $6.5 million from global payments company PayU in 2017 and had raised the first round of $1.7 million in October 2015.
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