Digital point-of-sale consumer finance platform – ZestMoney has raised an undisclosed amount of funding from Goldman Sachs and existing investors like Naspers Fintech.
While the company did not disclose the overall size of funding, about USD 15 million has been invested by Goldman Sachs with the remaining amount coming in from existing investors Naspers Fintech, Quona Capital & Flourish.
ZestMoney has previously raised USD 42 million in funding. It is backed by leading investors such as Ribbit Captial, Xiaomi, Naspers Fintech and Omidyar Networks.
“The capital we’ve raised in this latest round will enable us to accelerate product development, grow our strategic partnerships and scale our platform further to help support the dreams and aspirations of an ever-increasing number of Indian households,” ZestMoney co-founder and CEO Lizzie Chapman said in a statement.
ZestMoney expects to cross an annual run rate of over USD 1 billion in disbursal run rate in less than 18 months.