• Home
  • Realty
    • Realty
    • Realty Commercial
    • Realty Residential
    • Realty Retail
  • Management
  • IKC
    • IKC
    • Awards
    • Report 2019
    • Gallery
  • Videos
    • Videos
    • India Kitchen Congress
    • Conversations
  • Services
  • Contact Us
Log In

Submit a Video
User Panel Banner
Log In

  • Home
  • Realty
    • Realty Commercial
    • Realty Residential
    • Realty Retail
  • Management
  • IKC
    • Awards
    • Report 2019
    • Gallery
  • Videos
    • India Kitchen Congress
    • Conversations
  • Services
  • Contact Us
Home*ZestMoney Joins Hand with Northern Arc Capital, to disburse $400 Million Credit in One Year
ZestMoney

ZestMoney Joins Hand with Northern Arc Capital, to disburse $400 Million Credit in One Year

  • December 26, 2019
  • 0 comments
  • Sourcing Hardware
  • Posted in *
  • 0
  • Tweet
  • Share 0
  • +1
  • LinkedIn 0

The AI-driven EMI financing platform ZestMoney has announced a strategic financial partnership with Northern Arc Capital that aims to address the growing demand for EMI financing in India. Under the long-term partnership, Northern Arc Capital has deployed $14 million till date and plans to fund various products offered by ZestMoney in a phased manner. ZestMoney aims to disburse $400 million in the next one year to improve access to credit in the country where credit card penetration remains very low.

Northern Arc Capital has been instrumental in enabling financial inclusion in India by providing financial institutions that target lending to middle-income households and small businesses with critical access to debt capital markets.

Similarly, Northern Arc’s partnership with ZestMoney will also span a broad array of both domestic and international structured funding markets in addition to providing direct funding on the origination platform.

ZestMoney is a technology platform that provides easy access to consumer loans to millions of Indian households, which currently have no access to credit cards or any other formal financing options due to insufficient credit history. ZestMoney’s unique platform uses mobile technology, digital banking and data science to solve the affordability problem.

“We are striving to develop a deeper and holistic ecosystem for expanding our palette of offerings and access to affordable EMI solutions.

We have built some great NBFC partnerships over the last three years and are excited to work with the Northern Arc that shares our vision for financial inclusion in India,” Lizzie Chapman, CEO, ZestMoney said.

Kshama Fernandes, MD & CEO of Northern Arc Capital said, “Building on our decade-long experience of underwriting granular retail portfolios, Northern Arc has adopted a digital approach toward direct lending.

Nimbus, our agile platform, seamlessly integrates with technology platforms like Zest Money enabling efficiencies of reach at scale. The partnership with Zest Money has been particularly exciting as Zest Money reaches out to a large universe of unbanked and underbanked borrowers across the country.”

ZestMoney also recently announced a strategic partnership worth $100 million with Credit Saison, a Japanese financial services company affiliated with Mizuho Financial Group and the third-largest credit card issuer with over 20 million cardholders in Japan. This funding will be directly deployed into ZestMoney’s core loan origination activity.

On the back of such financial partnerships, ZestMoney now collaborates with more than fifteen domestic NBFCs to deliver financial accessibility to vastly underserved consumers.

Related Posts

Indian Building Products Industry
0 comments
*

Indian Building Products Industry: Using Plastic Responsibly

Indian Furniture Fittings Industrty
0 comments
*

Indian Furniture Fittings Industry: Times They are a Changing

Skipper has transformed its pipes business
0 comments
*

How Skipper has Transformed its Pipes Business

Eliminating Discomfort & Risk through Ergonom...

  • December 26, 2019
  • 0 comments

Steel Planks from Apollo

  • December 27, 2019
  • 0 comments

Share this

About author

Sourcing Hardware

Related Posts

Indian Building Products Industry
0 comments
*

Indian Building Products Industry: Using Plastic Responsibly

Indian Furniture Fittings Industrty
0 comments
*

Indian Furniture Fittings Industry: Times They are a Changing

Skipper has transformed its pipes business
0 comments
*

How Skipper has Transformed its Pipes Business

REHAU will market Titus hardware
0 comments
*

REHAU will Market Titus Hardware in India

Tags

  • Fintech
  • ZestMoney

Do not miss

Indian Building Products Industry
0 comments
*

Indian Building Products Industry: Using Plastic Responsibly

  • About us
  • Contact Us
  • Privacy Policy
  • About Channel Offers
Got a hot tip? Send it to us!

    Your Name (required)

    Your Email (required)

    Video URL

    Attach Video

    Category
    SportNewsTechMusic

    Your Message