ZestMoney to disburse credit worth $400 mn, partners with Northern Arc

ZestMoney said its technology platform provides easy access to consumer loans to millions of Indian households, which currently have no access to credit cards or any other formal financing options

ZestMoney, an artificial intelligence-driven EMI financing platform, said it has formed a strategic financial partnership with Northern Arc Capital, a non-banking finance company, that aims to address the growing demand for EMI financing in India. Under this long term partnership, Northern Arc Capital has deployed $14 million till date and plans to fund various products offered by ZestMoney in a phased manner. ZestMoney aims to disburse $400 million in the next year to improve access to credit in India where credit card penetration remains very low.

“We are striving to develop a deeper and holistic ecosystem for expanding our palette of