ZestMoney Co-Founders Unveil SwiffyLabs: Report
- ByStartupStory | January 10, 2024
Lizzie Chapman, Priya Sharma and Ashish Anantharaman, former founders of ZestMoney, have initiated SwiffyLabs under Jio Platforms Limited, targeting the development of business-to-business infrastructure, specifically APIs for financial institutions. Their focus, as per a report in Business Standard, centers on introducing innovative financial products like embedded finance and invoice financing, leveraging Artificial Intelligence (AI) and digital public infrastructure (DPI).
The startup, reportedly hiring across various roles, aims to assist financial entities in launching modern products empowered by technology advancements. Despite queries directed to Jio remaining unanswered, the founders, Chapman and Anantharaman, departed from ZestMoney in July 2023.
ZestMoney, the former Buy Now Pay Later (BNPL) startup, ceased operations in December 2023 post an unsuccessful acquisition attempt by Walmart-backed PhonePe. However, in August 2023, the company secured fresh funding from previous investors like Quona Capital, Omidyar Network India, Flourish Ventures, Zip, and Scarlet Capital to revitalize operations.
SwiffyLabs’ parent company, Jio Platforms, encompasses a spectrum of digital sectors including telecom, retail, ecommerce, manufacturing, media, and financial services. Notably, Jio Platforms attracted substantial investments of nearly $20 billion from global giants like Facebook, Google, KKR, Silverlake, and others.
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