ZestMoney | Pixr8 News

Bengaluru-based lending startup ZestMoney has raised $20 million in fresh funding led by Washington based fintech investment firm Quona Capital. Australia based fintech investor group Reinventure, existing investors Ribbit Capital, Omidyar Network and PayU are also participate in this round. The company will use this fund to invest in tech space and hiring. As per the press release, ZestMoney will hire 60 engineers and 20 data scientists in one year and improve integration with partner NBFCs and online retailers with whom it offers EMI options to customers. “Quona and Reinventure are both specialist fintech venture funds. There’s definitely a lot of momentum in our space right now, with everyone in e-commerce talking about affordability through EMI and we’re just riding off t...

Xiaomi, the leading Chinese smartphone company, has announced the launching of its first lending product in India similar to the Mi Credit, a microlending product it already offers in China. The credit product, which was launched in collaboration with lending platform KrazyBee, is already available and will be officially announced in the coming few weeks, according to someone close to the matter. The credit product will be called CreditBee, and will offer loans starting from Rs 1,000 to Rs 1 lakh for a duration of 90 days, according to the above-mentioned person. The initiative is set to target salaried professionals and will be provided for an interest rate of 3% per month. The individual cited above was quoted saying, “Xiaomi has lending products across segments in China, and it wi...

Tag: ZestMoney

Lending Startup ZestMoney raises $20 million funding

Xiaomi Launches Micro-lending Product in India