Bengaluru, December 13, 2018: ZestMoney, India’s largest and fastest growing consumer lending technology company, today announced its partnership with Mi Home to offer one-of-its-kind cardless EMI payment option to the Xiaomi community. This unique form of credit facility by ZestMoney will now enable all the shoppers at Mi Home stores to fulfil their wish lists instantly, without having to make the payment in full or at once. Essentially, the consumers can now spread the cost of their purchase over the next few months through an easy and transparent online EMI payment system.
ZestMoney’s fully integrated payment platform will now facilitate consumers across 70 Mi Homes in India to choose from a wide range of Xiaomi products and make payments over a flexible tenure of 3,6,9 or 12 months. Furthermore, all Mi Home shoppers will exclusively avail a special 0% EMI offer, which will not be available in any other Xiaomi sales channels.
ZestMoney is also an exclusive financing partner at Mi.com with its superior technology enabling distribution of digital EMIs. “This is a major step towards ZestMoney’s commitment to financial inclusion. We’ve partnered with Xiaomi in multiple aspects of business and this partnership is another way to solve the affordability problem in India.” said Lizzie Chapman, Co-founder and CEO, ZestMoney.
As part of the strategy to increase its retail presence, apart from Xiaomi, ZestMoney has also tied up with offline partners such as Sangeetha Mobiles, Storeking, Comfold among others and plans to grow its offline business by 10x in the next 6 months.
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 investors such as Ribbit Captial, Xiaomi, Naspers Fintech and Omidyar Networks.