ZestFinance Finds Strategic Funding From Baidu

Los Angeles-based ZestFinance has received a strategic investment from Baidu, according to the company on Sunday. ZestFinance did not disclose the size of the Baidu investment. ZestFinance said that the two are working together to apply the company's credit underwriting technology to Baidu's search, location, and payment data, in order to improve credit scoring in China. ZestFinance, led by Douglas Merrill, is using machine learning to help with credit underwriting and lending. The company currently offers up unsecured personal loans, which use its data to assess borrowers. More information »