ZestFinance

lendingcredit scoringartificial intelligence/machine learning

FOUNDING YEAR: 2009
LOCATION: United States
Last Update: 01/05/2020

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About

The worlds most innovative lenders rely on ZestFinance to do more profitable lending through machine learning. Our Zest Automated Machine Learning (ZAML) software is the only solution for explainable AI in credit, and we automate risk management so our customers can focus on lending safely to more people. Our mission is to make fair and transparent credit available to everyone, and we thrive on solving hard problems that have a big impact on people's daily lives. Applying Google-like math to improve credit decisions, we use machine learning and data science to help companies make more accurate credit decisions. The company was founded in 2009 by Douglas Merrill, who was formerly CIO at Google. Currently, ZestFinance is one of the fastest growing U.S. financial technology startups. We built ZAML to accelerate our mission by powering credit and underwriting at global financial firms. ZAML consumes vast amounts of data to more accurately identify good borrowers, enabling higher repayment rates for lenders and lower-cost credit for consumers. ZestFinance is determined to hire crazy smart people who are different from each other to create broad thinking, lots of different ideas, and by extension, build the best team possible. Were growing fast, and were looking for exceptional, caring, Zesty people to join our team. Our culture is special to us, and were proud of it. We thrive on diversity in our workplace, and we offer awesome benefits. If you want to solve hard problems and make peoples lives better, talk to us!

MEDICI Analysis

ZestFinance develops big data underwriting technologies to give lenders a better understanding of risk. They have reinvented underwriting, enabling more accurate credit decisions, increased credit availability for borrowers and higher repayment rates for lenders. ZestFinance’s technology identifies good borrowers in the near-prime credit segment where traditional credit scores indicate lower credit quality, giving the company’s Basix loans the ability to serve borrowers overlooked by banks.

Focus

PRODUCTS & SERVICES

Credit Underwriting services for lending platforms It helps to get accurate credit decisions, increased credit availability for borrowers and higher repayment rates for lenders.

REVENUE MODEL

The company follows transaction-based revenue model.

MAIN CLIENTS

Basix loan

EXISTING PARTNERSHIPS

Partnered with JD.com - expand services to china retailers

COMMENT

Zestfinance provides online loans to individuals whose credit scores won’t allow them to qualify for a bank loan.

Traction

VALUATION / MARKET CAP:

$250 M in 2015

People

FOUNDERS

Douglas Merrill

BOARD MEMBERS AND ADVISORS

Jeremy Liew

Dana Stalder

Douglas Merrill

Mike Rasic

Steven Dietz

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Eastward Capital Partners

Flybridge Capital Partners

Kensington Capital

Lighthouse Capital Partners

Lightspeed Venture Partners

Matrix Partners

Northgate Capital

Peter Thiel

Upfront Ventures

Victory Park Capital

Momentum

FUNDED

YES

TOTAL FUNDING

$67 M

DATE OF LAST FUNDING

Jul 2016

FUNDING SERIES

SERIES A  · $19 M  · Jul 2011

SERIES B  · $28 M  · Dec 2012

SERIES C  · $20 M  · Jul 2013

DEBT FUNDING

$150 M

LISTED

NO

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