Xiaomi Looking to Invest in Indian Fin-tech Startup ZestMoney - thomashisre1982

Xiaomi is expanding its investment portfolio with an investment in Amerindian language financial technology inauguration ZestMoney in the latest round of support. According to a past report from ET, two sources familiar with the affair have revealed that the company is in innovative talks to se a wager in ZestMoney which is looking to raise nigh $20 million in funding.

The reputation also reveals that Xiaomi is already in a partnership with ZestMoney, which offers EMI-loans on products purchased via Xiaomi's online store Mi.com. ZestMoney's latest round of funding will also watch engagement from existing investors including payments company PayU, according to a third generator. The two companies have reportedly held talks for an investment which will also result in nearer integration betwixt the two to push sales on Secret Intelligence Service.com.

If the deal goes through, this will be Xiaomi's indorse investiture in the fintech space followed by its investment funds in Krazybee last year. Xiaomi, on with Shunwei Capital, a risk capital firm started by Xiaomi cave in Lei Jun, led an $8 million round of funding in Bengaluru-founded Krazybee in October last year. The company likewise light-emitting diode a funding round of ShareChat earlier this year.

Xiaomi Could Invest in Fintech Startup ZestMoney's $20 Million Round

Raghu Reddy, head of online sales for Xiaomi, boost revealed that several of the company's investments bequeath be directed at aligning its push for sales and user experience. While He didn't comment on Xiaomi's negotiation with ZestMoney, helium said:

"We will look at companies that complement our business, offer affordability and payment solutions, OR offer good content that can make up part of our gimmick…For example, in content we invested in Hungama."

As of now, ZestMoney has not responded to queries regarding the investment, even so, Xiaomi's investment in ZestMoney and Krazybee is expected to help the company push sales on Mi.com by oblation users with easy and affordable cardless EMI options. Mi.com, according to a recent written report by Counterpoint Research, is already the third-largest e-commerce website in the country after Flipkart and Amazon River, and currently holds a 10% market share in online smartphone shipments.