Northern Arc Capital said it has been instrumental in enabling financial inclusion in India by providing financial institutions that target lending to middle-income households and small businesses with critical access to debt capital markets. Similarly, Northern Arc’s partnership with ZestMoney will also span a broad array of both domestic and international structured funding markets in addition to providing direct funding on the origination platform.
“Building on our decade-long experience of underwriting granular retail portfolios, Northern Arc has adopted a digital approach toward direct lending,” said Kshama Fernandes, MD and CEO of Northern Arc Capital. “Nimbus, our agile platform, seamlessly integrates with technology platforms like ZestMoney enabling efficiencies of reach at scale. The partnership with ZestMoney has been particularly exciting as it reaches out to a large universe of unbanked and underbanked borrowers across the country,” she added.
ZestMoney recently announced a strategic partnership worth $100 million with Credit Saison, a Japanese financial services company affiliated with Mizuho Financial Group and the third-largest credit card issuer with over 20 million cardholders in Japan. This funding will be directly deployed into ZestMoney’s core loan origination activity.