SwiffyLabs: ZestMoney Founders’ Fintech Venture with Jio Platforms Backing
“ZestMoney founders, Lizzie Chapman and Ashish Anantharaman, launch SwiffyLabs, a B2B fintech startup backed by Jio Platforms, aiming to provide innovative infrastructure solutions for financial institutions. The venture focuses on AI and Digital Public Infrastructure to enable the launch of modern financial products in the evolving Indian fintech landscape.
- SwiffyLabs’ Mission and Objectives
- Backing from Jio Platforms
- Recruitment and Development
- DPI and Fintech Landscape in India
- SwiffyLabs’ Position in the Fintech Ecosystem
The launch of SwiffyLabs follows the recent closure of ZestMoney, the BNPL firm founded in 2015, as it faced challenges in navigating regulatory uncertainties and securing new management. Chapman and Anantharaman left ZestMoney in May 2023.
The founders aim to position SwiffyLabs at the forefront of fintech innovation as it aims to provides innovative infrastructure solutions for financial institutions which focuses on AI and Digital Public Infrastructure to enable the launch of modern financial products in the evolving Indian fintech landscape.
The article underscores the potential of DPI in shaping the future of the Indian internet economy. It projected to reach $1 trillion by 2030. Redseer Strategy Consultants’ report highlights the role of DPI in democratizing growth, foreseeing opportunities in retail, insurance, healthcare, and agritech.
SwiffyLabs, with its focus on B2B fintech solutions, aims to capitalize on the momentum generated by DPI adoption among startups. The founders’ vision aligns with the increasing importance of digital and public infrastructure in the fintech landscape.
The closure of ZestMoney, despite its peak valuation of $470 million, reflects the challenges faced by startups in the evolving regulatory environment. SwiffyLabs emerges as a promising venture, backed by Jio Platforms, signaling a new era for Chapman and Anantharaman in the fintech sector.
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