Baidu backs ZestFinance for big data credit scoring

Los Angeles-based ZestFinance has received a strategic investment form Chinese web giant Baidu.

The size of the investment is undisclosed.

ZestFinance uses machine learning to create credit scores from large sets of complex data.

In addition to the funding ZestFianncial will also partner with Baidu to apply the startup’s underwriting technology to Baidu’s search, location and payments data to improve credit scoring decisions in the Chinese market.

“At ZestFinance, our mission is to make fair and transparent credit available to everyone,” said Douglas Merrill, Founder and CEO of ZestFinance.

“This investment from Baidu will help further our mission, particularly in the fast-growing Chinese credit market. We’re thrilled to work with Baidu to turn search data into credit data.”

Previously ZestFinancial raised $112m across four rounds of debit and equity funding.

Copyright © 2016 FINTECH GLOBAL

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