ZestMoney said to raise $15m in Series B

POS lending platform ZestMoney has reportedly raised $15m in a Series B round led by Goldman Sachs.

Other contributions to the round came from Naspers, Quona Capital and Omidyar Network according to a report from TechCrunch.

The Indian FinTech platform enables consumers to take out personal loans when buying products at various online merchants. Its services do not require a consumer to have a credit card or credit score.

Last year, the POS lending strartup secured $13.4m in a funding round led by Xiaomi. Capital from the round was used to support the development of its technology and data science capabilities.

Goldman Sachs has been very active in the FinTech space this year. Earlier in the month it lent $125m to MercadoLibre’s credit unit Mercado Credito and led the $47.6m Series B of Secure Code Warrior.

India’s FinTech scene is overshadowed by payments and remittance companies, which have been responsible for 70.9% of the $16.6bn dollars invested into FinTech since 2014. Marketplace lending is the country’s second largest FinTech segment, representing 12.5% of total funding.

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