Cross border fintech platform Zolve is all set to secure $25 million which is equivalent to around Rs. 200 crore in a fresh funding from Creaegis. According to the sources, the size of the total round may end up increasing the amount as it is still in the process of negotiations.

The company will secure nearly $330-360 million through the new round. Prior to this funding round, Zolve was last valued at $210 million when it raised $40 million in its Series A round where DST Global, Tiger Global, Alkeon Capital, as well as existing investors Accel and Lightspeed, participated.

Zolve is looking forward to a new round just months after it secured a $100-million debt facility from impact investor Community Investment Management (CIM) in October 2023.

At that time, Zolve, which helps Indians relocating to the US with opening bank accounts and obtaining credit cards, announced that it would use the funds to expand into additional markets such as the UK, Canada, and Australia.
Since its launch in 2021, Zolve reports having attracted approximately 500,000 users and facilitated transactions exceeding $600 million. These figures continue to grow as the company expands its services. In a press release from last year, Zolve highlighted a customer retention rate of 86%.

The startup has successfully secured more than $150 million in equity and debt financing over the course of three years. It was established by Raghunandan G, a serial entrepreneur and angel investor, who is also known for co-founding TaxiForSure. This mobility startup was ultimately acquired by its competitor Ola for $200 million.

Once the deal is finalized, Zolve will become a new addition to Creaegis expanding portfolio. Founded by former managing partner and chief investment officer (CIO) of Premji Invest, Prakash Parthasarathy, Creaegis has already invested in startups such as Third Wave Coffee Roasters, Medikabazaar and Zopper from its initial fund worth $426 million that closed in September 2023.