ZolveNeobank that helps to provide financial access to the Global Access to the US, has produced $ 251 million in years with a purpose to expand the presence and enter a new geographic.
Every year, millions of skilled people move to the country like the US for new opportunities. However, one of the main challenges are facing access to financial services, even when they began to obtain good wages. Banks often rejected credit cards and loans because of the lack of credit history in new countries – even in the state history in the country of origin. This is so much difficult when these people want to buy assets like a new home to live, or the car get everyday.
Zolve the purpose for This address with Neobankthat helps access to the credit and banking credit on her day without requires credit history. Startup is now the Global Citizen targets in the US, offers credit card and check your account using your home credit data.
“Financial institutions in one country does not talk to the financial institution in other countries. These issues we try to solve,” Raghunandan g, founder and CEO Zolve, in the interview.
Since launched in 2021, Zolve has collected 750,000 customers, processing more than $ 1.2 billion in transactions. Startup also returns $ 25 million in the net income last year, the founder tells techcrunch.
Currently, Zolve The purpose of increasing the number by introducing a loan, starting with automatic debt and gradually for private and education loans.
My words say that the US-tailed Cars are to pay 40% to pay 40% to approximately 19-21% because they do not have a car for the United States for 6-7% flower levels. Zolve can handle this larity by accessing your own credit history of the home country and underwriting risk.
Startup also plans to sign in Canada by July or August this year and steps to England and Australian next year.
Zolve has produced $ 51 million for series B, led Creaegis, with participation from HSBC, SBI, GMO, and DG Daila to support expansion. An existing investor Accel, partners venture Lightspeed, the Sparta group, and the global DST also participates. In addition, circles involved in $ 200 million debt to buy expats ‘books’ of banks of pairs to underwrite risks.
Initially the end of the destination is not only a global user to move to the US and Canada but also in the west among countries or on the side of the related financial network.
