Zest AI, a U.S. based lending technology provider, has secured $200 million in growth investment from Insight Partners to accelerate its mission of transforming credit underwriting through artificial intelligence. The funding will support the development of advanced products in fraud protection and generative AI, alongside the company’s core focus on more accurate and equitable credit scoring. Zest AI’s proprietary technology leverages thousands of data points, surpassing traditional models that rely on limited variables, to deliver higher precision in evaluating consumer credit risk. This approach has driven substantial growth, with the company doubling its customer base annually and achieving a compound annual growth rate of over 50%. Jon Rosenbaum, Managing Director at Insight Partners and Zest AI Board Member expressed excitement about supporting lenders' growth and advancing equitable credit access. He highlighted plans to enhance core credit underwriting and expand products in fraud and AI workflows already used by customers.
Since Insight Partners’ initial investment in 2020, Zest AI has expanded its product portfolio to include innovations such as Zest Protect and LuLu, a generative AI lending intelligence companion. With a clientele managing assets worth $5.5 billion and representing over 110 million individuals, Zest AI continues to set new benchmarks in lending technology. CEO Mike de Vere emphasized that the company's solutions enable lenders to grow their businesses by more than 25% while promoting equitable access to credit. Insight Partners Managing Director Jon Rosenbaum reaffirmed the firm's commitment to Zest AI’s vision of a stronger, more inclusive financial ecosystem.
