Backed by Jio Platforms, ZestMoney founders launch new venture SwiffyLabs

Lizzie Chapman and Ashish Anantharaman, the founders of “buy now pay later” (BNPL) firm ZestMoney, have launched a startup called SwiffyLabs, a business-to-business (B2B) fintech company building infrastructure for banks and financial institutions, according to sources. The venture has received backing from Jio Platforms, a subsidiary of Mukesh Ambani-owned Reliance Industries, according to people familiar with the development.

This development comes almost a month after ZestMoney, founded in 2015, shut down amid an unsuccessful attempt to revive its business under new management and regulatory uncertainty.
Chapman and Anantharaman had left ZestMoney in May 2023. The goal of their new venture is to help financial institutions launch new-age products like embedded finance and invoice financing, and to take advantage of the advancements in artificial intelligence and digital public infrastructure (DPI).