ZestMoney acquires PhotographAI to deepen access to credit for Indian consumers

ZestMoney is expected to have one of the most advanced automated credit assessment capabilities in the market.


ZestMoney, India's digital consumer lending platform has acquired PhotographAI, an AI-as-a-service platform offering various computer vision APIs. The strategic move will further strengthen ZestMoney's capabilities in AI, visual AI, and OCR.

ZestMoney acquires PhotographAI to deepen access to credit for Indians


As a result of this acquisition, ZestMoney is expected to have one of the most advanced automated credit assessment capabilities in the market. This is also a further step to delivering the most hassle-free automated and paperless credit products to more than 300 million households who currently do not have access to credit cards or any other formal financing options because of insufficient credit history.

Lizzie Chapman, Co-Founder, and CEO said "ZestMoney strives to become the preferred lifestyle affordability solution for Indian consumers. Excitingly, we are seeing increasingly high levels of demand from consumers in Tier 1 and beyond - customers traditionally under-served by banks and credit cards. Having a completely digital application process and underwriting process is now critical to serving these customers"

Talking about the technology, Ashish Anantharaman, Co-Founder and CTO, ZestMoney said, "The PhotographAI team has developed superior API based AI solutions that we have been testing for some time in authentication, on-boarding, and underwriting. This acquisition will help us strengthen our capabilities in these areas and build additional in-house solutions for OCR and facial recognition. We are excited to be building one of the most advanced AI lending teams in this market"

Bengaluru based PhotographAI was founded in 2017 by IIT Delhi alumnus, Mikhil Raj and Karan Varshney. The team already has been building building AI driven products since 2013 together. In a short period of time, they built a platform that delivered image, video, and text analytics technologies such as image classification, OCR, document enhancement, text analytics and video analytics supporting e-commerce and Fintech companies to automate their process and minimize the costs. The company had raised funding from Venture Capital firms Orios Venture Partners and IndiaQuotient.


ZestMoney was set up as a digital lending platform with the aim to offer a better lifestyle and to fulfill the aspirations of a growing number of Indians who have been ignored by traditional financial services companies. ZestMoney has built a completely digital automated back-end with an AI-based machine learning decision engine, offering configurable digital products, instant approval, and a seamless user experience.

Most Read Articles
Best Mobiles in India

Best Phones

Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Yes No
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Gizbot sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Gizbot website. However, you can change your cookie settings at any time. Learn more