Business Standard

ZestMoney targets 1000 per cent increase in Travel EMIs in 2019, slashes interest to zero


ZestMoney, India's first and largest AI-driven EMI financing venture has launched 0 per cent Travel EMIs on MakeMyTrip, GoIbibo and Yatra, with an aim to disburse USD 200 million worth of Travel EMIs in 2019.
The move is expected to benefit over one million new users, and liberate existing travellers from financial limitations as booking of flights, holiday packages and hotels are now possible through ZestMoney credit limit.
"Consumption of Travel EMIs is on the rise, and our zero-interest financing is expected to further boost this trend. We aim to disburse Travel EMIs worth USD 200 million in 2019 and benefit at least one million new users", said, Lizzie Chapman, Co-founder, and CEO of ZestMoney.
ZestMoney travel EMIs have been growing steadily at the rate of 450 per cent year on year. "Travel EMIs are at the forefront of our business growth plans for the year, and we shall invest extensively in educating the customer, and expand our network of partners", added Lizzie.
Zero-interest Travel EMIs are available for a duration of three months for users. A user can take a loan from ZestMoney in three easy steps, by registering on the platform, sharing required information and statements, and confirming the EMI plan.
Signing up on ZestMoney is a one-time process, once registered the user can pay in EMI across all ZestMoney partners including Amazon, Flipkart, Myntra, MakeMyTrip and Xiaomi among others.
ZestMoney is the largest and fastest-growing consumer lending Fintech Company in India founded by Lizzie Chapman, Priya Sharma and Ashish Anantharaman in 2015. ZestMoney is built as a platform that can meaningfully improve the lives of more than 300 million households in the country, who currently have no access to credit cards or any other formal financing options because of insufficient credit history.
ZestMoney's unique platform uses mobile technology, digital banking, and Artificial Intelligence to make life more affordable to millions of Indian consumers. ZestMoney is backed by leading global investors such as Naspers Fintech, Omidyar Network, Quona Capital, Reinventure, Ribbit Capital, and Xiaomi.
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First Published: Aug 28 2019 | 2:15 PM IST

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