India’s DMI Group snags FinTech startup ZestMoney, a game-changer

The DMI Group, a financial services platform in India, has acquired fintech startup ZestMoney. Through this acquisition, DMI will have exclusive rights to use all Zest brands and will be able to expand its product suite by incorporating ZestMoney’s checkout financing platform. The acquisition will also allow DMI to leverage ZestMoney’s merchant network for growth. ZestMoney is a fully automated digital customer onboarding and servicing system that provides instant digital credit at the point of sale. It has over 80,000 merchants across India, including Amazon, Flipkart, and Samsung. DMI Finance is a digital lender that offers consumption, personal, and MSME loans. The group has raised over $1.5 billion in investment capital and is backed by global institutional investors and leading international banks. Both companies have previously partnered together and believe the acquisition will enhance their ability to provide digital financial inclusion at scale.