Zestmoney Debt Financing Alteria-Capital
The venture debt firm Alteria Capital has given funds to ZestMoney.
In a round of A Series funding which is led by Chinese smartphone maker Xiaomi in August 2018.
The total amount taken by the Xiaomi-led round was $22 million which was raised by ZeastMoney .
Bengaluru-based Founded in 2015 ZestMoney, which enables real-time credit approval. The startup was done by digital finance and technology professionals, Priya Sharma, Lizzie Chapman and Ashish Anantharaman
Alterea Capital is a fund of 800 crores in which Greensho is worth 200 crores and has recently announced its second closure with commitments of Rs 625 crores. This includes anchor investment of IndusInd Bank, SIDBI and a large Indian Family Office Foundation. Alteria will provide venture loan for high growth; Innovative Indian startup with a check size limit of Rs. 2 crores - 100 crores rupees.
ZestMoney claims that its platform has more than two million accounts, more than half of which have an active credit line. The company wants to take its total accounts up to five million this year. It claims to lend about Rs 3 crore a day, and in the last six months, it has stepped into new lending categories of health, education, fashion and travel. Currently, ZestMoney has over 100 different e-commerce partners to lend, as well as five active lending partners.
In addition to Xiaomi, ZestMoney is backed by Naspers-owned PayU, Ribbit Capital and Omidyar Network. The PayU led the Series A $ 6.5 million for ZestMoney in February 2017.
Startup claims to receive 300,000 apps per month. It recently acquired the PhotographAI platform for an unknown amount of visual artificial intelligence and to strengthen its capabilities in optical character recognition.
The total amount taken by the Xiaomi-led round was $22 million which was raised by ZeastMoney .
Bengaluru-based Founded in 2015 ZestMoney, which enables real-time credit approval. The startup was done by digital finance and technology professionals, Priya Sharma, Lizzie Chapman and Ashish Anantharaman
Lizzie Chapman, Co-founder and CEO in a statement, said that ,
"We are having a crticial growth and in a expansion phase.Our resolve is to enable every Indian with the power of the loan, whether it is to support education, or to purchase items of his/her dreams. The Altria team thoroughly understood this phase of development and included us as a long-term partner. "
Alterea Capital is a fund of 800 crores in which Greensho is worth 200 crores and has recently announced its second closure with commitments of Rs 625 crores. This includes anchor investment of IndusInd Bank, SIDBI and a large Indian Family Office Foundation. Alteria will provide venture loan for high growth; Innovative Indian startup with a check size limit of Rs. 2 crores - 100 crores rupees.
The Co-founder and Managing Partner 0f Alteria Capital, Vinod Murali said :
"ZestMoney have very strong background in financial services with lots of experience between their teams. They are solving a very large problem by providing seamless access to credit to a very large section of India's population by using effectively the technology. "
ZestMoney claims that its platform has more than two million accounts, more than half of which have an active credit line. The company wants to take its total accounts up to five million this year. It claims to lend about Rs 3 crore a day, and in the last six months, it has stepped into new lending categories of health, education, fashion and travel. Currently, ZestMoney has over 100 different e-commerce partners to lend, as well as five active lending partners.
In addition to Xiaomi, ZestMoney is backed by Naspers-owned PayU, Ribbit Capital and Omidyar Network. The PayU led the Series A $ 6.5 million for ZestMoney in February 2017.
Startup claims to receive 300,000 apps per month. It recently acquired the PhotographAI platform for an unknown amount of visual artificial intelligence and to strengthen its capabilities in optical character recognition.
Alteria Capital
The company was founded in 2016 by Vinod Murali and Ajay Hattangdi. Ltd.
Alteria Capital closed its first fund in March 2018 with commitments of Rs 356 crore.
The target of this fund is Rs. 1,000 crore and in October, it reached Rs. 625 crore. It increased anchor investment with the foundation of IndusInd Bank, Small Industries Development Bank of India and a large domestic family office.
Alteriaa has sealed more than 10 deals. It made its first investment in the ready-to-cook food startup fingerprints.
Other portfolio firms include Phosos, Portia, TopP Technologies Limited, Raw Pressery, Vogo Bike, Dunzo and Universal Sportsboy Pvt. Ltd.