Zest AI, a Burbank, CA-based leader in AI lending technology, received a $200m growth investment from Insight Partners.
The growth capital will enable the company to double down on its current product portfolio, continuing to advance fraud protection and generative AI, all to build the future of lending through AI.
Led by CEO and Founder Mike de Vere, Zest AI is a tech company aiming to broaden access to equitable lending. Its technology analyzes thousands of data variables. With over 50 patents, Zest AI has developed and deployed over 500 active proprietary AI consumer credit models that help lenders make smarter lending decisions. Since 2009, the company has worked with all types of lenders.
Since Insight Partners made their first investment in Zest AI in 2020, the company has doubled its customer count every year and has had an average compounding annual growth rate of over 50%. Today, customers represent 110 million people and $5.5 trillion in assets under management.
As the company focuses on its next phase of expansion, Zest AI’s M&A strategy and product roadmap center around four pillars that reinforce its position as a comprehensive lending AI technology: loan underwriting solutions, fraud protection, marketing and data intelligence capabilities. The company recently announced Zest Protect, which leverages AI models with hundreds of features, and a generative AI lending intelligence companion called LuLu that enables financial institutions to analyze performance benchmarks and extract insights using natural language prompts.
FinSMEs
13/12/2024