# ZestMoney

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zestmoney

- Industry: Financial Services
- Headquarters: Bangalore, India
- Website: www.zestmoney.in
- Total disclosed funding: $147M
- Latest round: Series C (Sep 29, 2023)
- Investors on record: 14

## About

ZestMoney is a financial technology company based in India that provides consumers with the ability to shop without a credit card, offering flexible payment options through an intuitive app.Founded in 2015, ZestMoney is located in Bangalore, India, and specializes in providing consumer financing solutions. The company was co-founded by Lizzie Chapman, who has a background in financial services and technology. ZestMoney has raised a total of USD 83.82 mn across multiple funding rounds, with the most recent being a Series C round led by Zip Co Limited on January 17, 2024. The company has successfully completed 10 deals to date, and its current valuation stands at USD 493.887 mn.ZestMoney offers a unique app that enables consumers to make purchases and split payments into installments of 3, 6, 9, or 12 months. The platform allows users to easily upload their Know Your Customer (KYC) documentation and set up automatic repayments from their bank accounts. ZestMoney supports transactions at over 100,000 offline outlets and 15,000 online stores across various sectors, catering to consumers in India who seek flexible payment solutions.In the most recent financial year, ZestMoney reported revenue of USD 18,646,991.50, with an EBITDA of USD -50,512,566 for 2022.In January 2024, ZestMoney was acquired by DMI Finance Private Limited, a move aimed at strengthening its digital financial services portfolio. The acquisition is expected to support ZestMoney's future initiatives, which include expanding its product offerings and enhancing its market presence. Specific plans for product launches or market expansions have not been disclosed as of yet.

## Funding rounds

- Series C, Sep 29, 2023, $84M — Bank of America, Goldman Sachs Asset Management, Omidyar Network, Ribbit Capital, Quona Capital, Zip Co Limited, Colle Capital, PayU GPO, DMI Finance, Flourish Ventures, Xiaomi Group, Scarlet Digital
- Series B, Dec 18, 2019, $21M — Goldman Sachs Asset Management, Quona Capital, PayU GPO, On Mauritius, Flourish Ventures
- Series B, May 8, 2019, $20M — Ribbit Capital, Reinventure, Quona Capital, PayU GPO, On Mauritius
- Series A, Aug 17, 2018, $13M — Ribbit Capital, PayU GPO, On Mauritius, Xiaomi Group
- Series A, Feb 2, 2017, $6.5M — Ribbit Capital, PayU GPO, On Mauritius
- Seed, Sep 1, 2015, $2M — Omidyar Network, Ribbit Capital

## Investors

- Omidyar Network (https://capitalatlas.ai/funds/omidyar-network) — Seed, Series C
- Ribbit Capital (https://capitalatlas.ai/funds/ribbit-capital) — Seed, Series A, Series B, Series C
- PayU GPO — Series A, Series B, Series C
- On Mauritius — Series A, Series B
- Xiaomi Group — Series A, Series C
- Reinventure (https://capitalatlas.ai/funds/reinventure) — Series B
- Quona Capital (https://capitalatlas.ai/funds/quona-capital) — Series B, Series C
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series B, Series C
- Flourish Ventures (https://capitalatlas.ai/funds/flourish-ventures) — Series B, Series C
- Bank of America — Series C
- Zip Co Limited — Series C
- Colle Capital (https://capitalatlas.ai/funds/colle-capital) — Series C
- DMI Finance (https://capitalatlas.ai/funds/dmi-finance) — Series C
- Scarlet Digital — Series C