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India based ZestMoney raised $15m led by Goldman Sachs in a Series B extension

India based consumer lending startup raised $15m led by Goldman Sachs in a Series B extension. 

The penetration of credit cards remains very low in India; roughly three in 100 people in the country have a credit card. This has meant that very few people in the nation have a traditional credit score, which banks heavily rely on to establish one’s credit worthiness before issuing them a loan.

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india, lending