The credit card is used by many all over the world. Most of the banks however don’t give credit cards easily to everyone. One needs to have a good salary to be applicable for a credit card. But what about others? As well, people in developing countries like India hesitate to use a credit card. Most of them are unable to get credit cards. Despite these problems, India has the largest growing fintech industry. However, firms like ZestMoney is working to find a solution to this problem.
It is the largest consumer lending fintech firm in India, growing speedily. In 2015, three friends Lizzie Chapman, Priya Sharma, and Ashish Anantharaman set up the firm. Since then it is working to provide credit cards and other financial options to many households in India. Today, more than 300 million customers who are not applicable for credit card service use the service of ZestMoney.
The Backstory of Foundation
Founders of ZestMoney were aware of the fact that people want a bank but without the hectic process to get money. Obviously, no one wants to stand in long queues and filling the forms to withdraw money. In fact, it is not possible every time to go to the bank. No doubt, the banks provide easy options like ATM. But what if there is limited money in the account and someone needed more to complete the purchase. Yupp, the option of a Credit card is there. But it is not for everyone, usually, households face difficulties. So in such cases, they have to ask for money from relatives or friends.
Keeping all this in mind, Lizzie, Priya, and Ashish enabled the unique platform called ZestMoney. ZestMoney is based on the belief that every individual deserves access to financial products. Thus, meaningfully enhancing their lives.
About ZestMoney
ZestMoney is a consumer lending fintech firm based in India. Its digital credit product is easy to use and available 24/7. As well, ZestMoney uses advanced technology such as AI, data science, voice, and visual recognition to deliver that, at scale. The platform of ZestMoney utilizes mobile technology as well as digital banking. Thus, making the life affordable and feasible of several Indians. For that, World Economic For recognized ZestMoney as a 2020 Technology Pioneer.
To achieve the goal of enabling credit card service for all, it has been in partnership with top firms. Includes, Flipkart, Muthoot Finance, Amazon, MakeMyTrip, Hedge, etc. With these lenders, ZestMoney making the life affordable of over 300 million household users in India.
Glimpse to Founders life
Lizzie Chapman
She is the CEO & Co-Founder of ZestMoney. Miss Chapman has been consistently driving the adoption of digital finance. As well, she supports the concept of “cardless credit” Throughout her career. However, she aims at digital India where every Indian has access to transparent financial services and affordable credit. For that, she established ZestMoney with her colleges that are making digital finance accessible to Indian consumers.
Career
Prior to set up ZestMoney, she worked with Goldman Sachs in London. Also, Lizzie worked with the Wellcome Trust as an Investment Manager. In 2011, she moved from the UK to India and set up spearhead India operations for Wonga. It was one of the largest fintech companies in the world then. Thereafter, she joined the Development Bank of Singapore. That time, she leads the launch of ‘Digibank’, India’s first mobile-app only bank at the time.
Currently, she is serving on the boards of IndiaMart and IndiaQuotient. As well, Lizzie is also a founding member of the Digital Lending Association of India and serves on its Executive Committee.
Ashish Anantharaman
He is one of the founding members of ZestMoney. Presently, he is serving as a CTO. Ashish is an entrepreneur and technical leader having over 22 years of progressive success within a challenging technical environment.
Priya Sharma
She is the CFO, COO & Co-Founder of ZestMoney. Before that, she worked with Wonga. There she was responsible for looking at international markets from a strategic perspective. As well, Priya worked at Bank of America Merrill Lynch. Apart from that, she had served as a management and technology consultant for Deloitte and Sapient Corporation.
Education
She holds an MBA from London Business School. Priya earned a degree in B.Tech from the Indian Institute of Technology – BHU.
Jayshri is an Electronics Engineer, but her passion towards writing made her to be in this field. Apart from content writing, she loves reading, writing and surfing on various topics. In her free time, she likes to watch TV series and news. Sherlock Holmes is her all time favorite show. Jayshri loves cooking various Indian-western dishes.