December 20

Goldman Sachs Leads $15M Investment in Indian Fintech Startup ZestMoney

By Manish Singh

One of America’s largest banks has just poured in some money to help millions of Indians without a credit score secure loans and make purchases online for the first time in their lives.

Bangalore-based ZestMoney announced today that it has raised $15 million from Goldman Sachs and existing investors Naspers Fintech, Quona Capital and Omidyar Network. Lizzie Chapman, co-founder and chief executive of ZestMoney,  told TechCrunch in an interview that the new investment is part of an extended Series B round, the first tranche of which was announced in April this year.

The extended Series B round brings ZestMoney’s total raise to-date to $63 million, she said.

Photo courtesy of Meena Kadri.

Source: TechCrunch (link opens in a new window)

emerging markets, financial inclusion, financial services, fintech, microcredit, startups