ZestMoney raises $50 mn from Zip Co to scale up buy now, pay later offering

The shift towards pay later solutions is a global phenomenon and represents young digital consumers looking for transparency, honesty and no hidden charges in financial products

Fintech startup ZestMoney has raised $50 million from the leading global buy now, pay later provider Zip Co Limited. This is part of a larger Series C fundraise which will see participation from existing investors.

Zip will acquire a minority shareholding in the company and a board seat as part of the investment. Founded in Australia in 2013, Zip has a presence in 12 markets across five continents, serving more than 7.3 million customers and over 51,000 merchants.

The company plans to deploy the funds to expand the product suite, deepen the transaction network, strengthen its balance sheet capacity and launch new