PayU has led the round, providing $3.7m, and was joined by existing shareholders Ribbit Capital and Omidyar Network.
India-based fintech developer ZestMoney has raised $6.5m in a series A round led by payments processing firm PayU, a subsidiary of media company Naspers, Techcircle reported today.
PayU invested $3.7m in return for a 20% stake, while the remaining capital came from Ribbit Capital and Omidyar Network.
ZestMoney operates a platform that enables online shoppers to instantly open bank accounts to obtain a loan for their purchases. The approach, which relies on data such as credit information bureaus, allows for…
