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After the central bank tightened its digital lending guidelines in September, fintech companies have started to acquire small NBFCs or seek NBFC licences.
As part of its revival efforts, ZestMoney will shut down its insurance business and affiliate programmes and will shift majority of its focus towards its core business of lending and EMI for consumer goods.
Following the resignation of its three cofounders, ZestMoney has set up a new leadership team to steer the fintech startup
ZestMoney will be run by new leadership team of Mohit Chhajer, Mandar Satpute and Abhishek Sharma. The startup has 150 employees
Abhishek Sharma, Head of Growth; Mandar Satupte, Chief Banking Officer; and Mohit Chhajer, Vice President of Finance and Financial Operations (FinOps), will assume responsibility for leading ZestMoney.