Zolve, a neobanking platform for individuals moving from India to the U.S. (or the other way around) has closed a $15 million funding round.
The startup works with banks in the U.S. and India to provide consumers access to financial products seamlessly without paying any premium or coughing up any security deposit.
Raghunandan said the startup underwrites the risks, which has enabled banks in foreign countries to extend their services to Zolve customers. “Consumers can open an account with us and access all banking services as if they are banking with their national bank,” he said.
As part of the announcement, Raghunandan said two-month-old Zolve has raised $15 million in a seed financing round led by Accel and Lightspeed. Blume Ventures and several high-profile angel investors, including Kunal Shah (founder of Cred), Ashish Gupta (formerly the MD of Helion), Greg Kidd (known for his investments in Twitter and Ripple), Rahul Mehta (managing partner at DST Global) and Rahul Kishore (senior managing director of Coatue Capital), also participated in the round.