16 February 2017, India:
Bengaluru-based fintech company ZestMoney has raised $6.5 million in a series A round of funding from Naspers-owned PayU. The round also saw the participation from the existing investors, US-based Ribbit Capital and Omidyar Network, also participated in the round along with individual investors.
Jitendra Gupta, Managing Director at PayU said, “ZestMoney has achieved good initial traction in providing credit to online shoppers and we are excited to partner with them… The investment of minority stake in ZestMoney is part of the larger vision of PayU’s credit portfolio strategy.”
Founded in 2015 by Lizzie Chapman, Priya Sharma and Ashish Anantharaman, ZestMoney will utilize the fresh funds to develop technology and product.