This Bangalore based Zest Money Startup uses AI for giving Loans

Zest Money is a platform that makes receiving a loan simple by combining mobile technology, digital banking, and artificial intelligence. It was started in 2016 by Ashish Anantharaman, Lizzie Chapman, Priya Sharma.
By Anil Diggiwal - Jul 4 2021 10:48PM - 5348 Read
Indian Zest Money Startup is Filling the Credit Gap in Tier II & III Cities

Many people in India do not have access to credit cards or other viable financial options due to insufficient card history, lack of awareness, and hefty process for loans. This is where Zest Money enters the picture. Zest Money is a well-known Indian fin-tech startup & an internet platform designed to make a difference in the lives of the 300 million people who don't have access to suitable funding. The startup makes life easier by utilizing cutting-edge mobile technologies, digital banking services, and artificial intelligence.

Zest Money Startup – Making Financial Services Easy

Zest Money is a platform that makes receiving a loan simple by combining mobile technology, digital banking, and artificial intelligence. While many lending institutions are hesitant to give money to people who do not have a good credit history, Zest Money is a platform that does not consider credit history to be a barrier to acquiring a loan.

Fun Fact : The founders got the idea inspiration from Wonga, a UK-based financial startup.

Zest Money Startup – Key Stats

  • Founders: Ashish Anantharaman, Lizzie Chapman, Priya Sharma
  • Headquarters: Bangalore, India
  • Founded: 2016
  • Industries Type: Consumer Lending, Big Data, FinTech, Financial Services
  • Operating Status: Active
  • Funding Status: Early Stage Venture
  • Number of Employees: 101-250
  • Parent Company: Camden Town Technologies, Pvt. Ltd.
  • IPO Status: Private
  • Company Nature: For Profit
Zest Money Startup Zest Money Founders

Zest Money Startup – Features & Strengths

Unlike any other organization, Zest Money guarantees high-growth businesses while developing EMI for clients of all sizes.

  • Guaranteed AOV 2.5-Fold Rise
  • Easy to Use Computerized Methods
  • Quick Process of Integration
  • Customers can pay their EMIs in a Variety of Methods, Including Websites, Apps, And In-Store Transactions.
  • Customers Who Do Not Have A Credit Card Can Take Advantage Of EMI.
  • No Penalty for Paying In Advance.
  • A Clear Fee Structure
  • No Hidden Charges

Zest Money Startup – Founders

  • Lizzie Chapman – CEO, London
  • Priya Sharma – CFO, Delhi
  • Ashish Anantharaman – CTO, Mumbai
Fun Fact : Zest Money employs approximately 200 people.

Zest Startup – Tagline & Brand Name

  • Brand Name: The term 'Zest' stands for positive emotions like enthusiasm, zeal, and passion, and so the word 'Zest' in 'ZestMoney' indicates Zest Money's speedy loan of money, making borrowing money a joyful rather than a stressful experience.
  • Tagline - "EMI for everyone."

Zest Money - Investors & Funding

Zest Money is currently valued over $190 Million & has raised investment from several investors, including:

DateLeadInvestors StageAmount
September 2015Omidyar Network & Nelson HolznerSeed$2M
December 2016PayUSeries A$6.5M
August 2018XiaomiSeries A$13.4M
January 2019Alteria CapitalDebt Financing-
April 2019Quona CapitalSeries B$20M
December 2019Goldman SachsSeries B$15M
March 2020Primrose--$4.6M
May 2020Primrose--$3.06M
June 2020Primrose--$3.58M

Zest Money Startup - Competitors

Zest Money startup has an advantage of the established skilled team & highly processed technology over its competitors, which includes:

  • Snapmint
  • KredXIndia
  • LazyPay
  • Finzy

Zest Money Startup Revenue Model – Commissions

Merchant partners, lending partners, and borrowers all pay Zest Money commissions. According to growjo.com, Zest Money's annual revenue is predicted to be $26.1 million. Zest Money said that it received 500,000 applications per month in 2019 and that the number is projected to rise. Zest Money grew by 2,706% in one year in terms of revenue growth.

Fun Fact : In 2019, the startup got an NPS rating of 75, higher than Amazon and Uber.

Zest Money Business Model – AI-Based Selection

Every borrower has a risk profile created by Zest Money's AI-based machine learning decision engine. Those who do not have a sufficient credit history need to supply some more information, which Zest Money's Decision Engine uses to assess the borrower's credibility and lend him money.

Sign up & Know your Credit Limit

The startup offers personal loans by simply signing up for Zest Money and completing the KYC process to access the Zest Money Credit Limit. After being authorized, a user is given a credit limit based on his eligibility, which he can use to pay any of Zest Money's 3000+ merchant partners.

Zest Money Startup – Payment & Merchant Partners

Zest Money has worked with a variety of notable brands, including:

  • Merchant Partners:
    • Amazon,
    • Flipkart,
    • Myntra,
    • SleepyCat,
    • Xiaomi,
    • NestAway,
    • Make My Trip,
    • UpGrad,
    • Raymonds,
    • Nutrabay,
    • Levis,
    • Home Central
    • Sulekha,
    • FabIndia,
    • Pantaloons,
  • Payment & Lending Partners:
    • DMI Finance,
    • Fox Capital,
    • PACE Finance,
    • Northern Arc,
    • SMC Finance,
    • Nahar Credits,
    • InCred,
    • Muthoot Finance,
    • CSB Bank,
    • Ghalla Bhansali,
    • IIFL,
    • Hedge Finance
Fun Fact : In Mar 2021, Zest Money was ranked second in Deloitte Technology's 50 fastest growing technology businesses in India ranking

Zest Money – Future Plans

In the future, the company intends to expand its product development and partnerships at a faster pace. While some Zest Money Merchant Partners, such as Xiaomi, Titan, and Croma, accept Zest Money EMI at their offline stores, the firm is partnering with more merchants to allow users to pay with Zest Money EMI in more locations.

Anil Diggiwal
Anil Diggiwal

Anil Diggiwal is the Chief Editor for DigitalYug. He is particularly interested in business, in addition to international, online tale, quirky, and regional movies. Active in journalism for about a decade and a half, as well as a successful entrepreneur

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