[Funding alert] Neobank Zolve Raises $100 Mn Debt Funding From Community Investment Management

Impact investor Community Investment Management (CIM), based in the US, issued cross-border neobank Zolve a warehouse debt facility worth $100 Mn.

The debt financing will be used to provide financial services to immigrants moving across the US, particularly Indian immigrants. The money will also be utilised to broaden operations and provide immigrants shifting to the UK, Canada, and Australia with a wide range of financial services, by inc42.

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“I believe that when individuals embark on journeys to new countries, be it for education or work, financial barriers should never impede their progress. With the recent capital we’ve raised, we move closer to realising a world where access to essential financial resources transcends borders and backgrounds,” said Zolve founder Raghunandan G.

A global neo-banking startup called Zolve aims to offer banking and financial services to people who are considering relocating to other countries.

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Managing partner at CIM Jacob Haar added, “We are excited to be early supporters of Zolve’s vision to provide a comprehensive financial solution to the global immigrant community in the US… In only two years of operations, Zolve has achieved remarkable growth within this creditworthy but underserved segment of the market and we are pleased to partner with Raghunandan and his team.”

About Zolve

Raghunandan G, a seasoned businessman and co-founder of TaxiForSure, established the fintech business Zolve in 2021 to provide streamlined cross-border financial services. Its Bangalore, India, headquarters serves as its base of operations.

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