Zolve neobank startup raises USD 40 mln in Series A

Partners of DST Global led the Bangalore-headquartered startup’s Series A financing round. The round, which values the 10-month-old startup at USD 210 million and brings its all-time raise to USD 55 million, also saw participation from Tiger Global and Alkeon Capital and existing investors Lightspeed Venture Partners and Accel.

Zolve initially offered the service for Indians going to US for work or studies, but now plans to expand its offerings to immigrants from several nations early in 2022. Zolve currently works with banks in the US and India to provide consumers access to financial products without them having to pay any premium or coughing up any security deposit.