Wednesday, November 2, 2022

Zest AI Gets $50M More

Los Angeles-based Zest AI, which develops automated underwriting tools for the lending industry, has raised over $50M in a new round of funding, the company said this morning. The funding was co-led by Insight Partners, an existing investors, along with new investor CMFG Ventures. CU Direct, Curql, Suncoast Credit Union, Golden1 Credit Union, Hawaii USA Federal Credit Union, and NorthGate Capital also participated. According to the company, it will use the new funding to expand access to its AI-automated credit underwriting tools. Zest AI is led by CEO Mike de Vere.