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04 Mar 2024, Edition - 3156, Monday

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ZestMoney Gears up for Festive Season with Universal Redemption

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  • The company has partnered with all major payment gateways like PayU, RazorPay, Billdesk and Cashfree

  • ZestMoney has an extensive partner base of over 2,500 merchants across different industries


ZestMoney, India's first and largest AI driven digital lending platform has collaborated with all major payment gateways of the country. These partnerships now enables over 2,500 merchants that are integrated with PayU, Billdesk, Cashfree and Razorpay to start accepting ZestMoney as a payment method instantly. This means that the merchants can now offer the convenience of cardless EMI payment option to consumers and increase their overall conversions. 


ZestMoney gathers ~3,500 unique data points (~2,500 data points for New to Credit) to facilitate risk decisioning. This includes a variety of alternative data, the source of which includes merchant data, acquisition channel, geo location of the IP, clickstream data etc. All data sources used by ZestMoney are from publicly available information about the customer or used after obtaining customer consent for the information. By leveraging this technology, ZestMoney can provide loans of amount starting from 1,000, going upto 5 lacs as per the need of the customer in any location.  


ZestMoney has a full fledged in-house collections set up. The team uses its data science capabilities and has an in built collections scorecard that facilitates efficient collections. 


Having a diversified sourcing strategy also ensures building a diverse customer base spread across different segments & risk profiles thus facilitating the lending partner as well to build a diversified consumer lending book,” said Lizzie Chapman, CEO, ZestMoney.


About ZestMoney

ZestMoney is India's first and largest AI driven EMI financing venture founded by Lizzie Chapman, Priya Sharma and Ashish Anantharaman in 2015. The company is built as a platform that can meaningfully 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. ZestMoney’s unique platform uses mobile technology, digital banking, and Artificial Intelligence to make life more affordable to millions of Indian consumers. ZestMoney is backed by leading investors such as Ribbit Capital, Xiaomi, Naspers Fintech, and Omidyar Networks.


The company has over 5 million registered consumers and has raised $42 million to date in four financing rounds.

Source: Newsvior

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