Fintech startup ZestMoney has received an equity investment led by global investment bank Goldman Sachs.
While ZestMoney did not disclose the investment in the form of equity, it said that existing investors, Naspers Fintech, Quona Capital and Flourish, also participated in the round.
Goldman Sachs joins other global fintech investors including Ribbit Capital, Xiaomi, Naspers Fintech, Quona Capital and Flourish (Omidyar Networks).
“India is one of the most exciting fintech markets in the world. We see this investment in one of the country’s leading consumer lending fintech companies as fostering much-needed access to affordable consumer credit to Indian households. We look forward to leveraging our global experience and network for the continued growth of ZestMoney,” said Philip Aldis, a managing director at Goldman Sachs.
ZestMoney has built a technology platform to provide credit to people who have limited access to credit cards or any other formal financing options because of insufficient credit history.
Source: The Hindu