Nuked 
Hello there, tech enthusiasts! Today, we dive into a game-changing venture making waves in the fintech world.
Zolve is a fresh neobank catering to highly-skilled global citizens relocating to the U.S., having successfully gathered a whopping $251 million in a recent funding round.
Every year, countless talented individuals seek new opportunities in the U.S., but they often face hurdles accessing financial services on account of lack of a local credit history.
Enter Zolve, which helps these newcomers obtain credit and banking services right from day one, using their credit history from their home countries.
“Financial institutions in one country often don’t communicate with those in another, leading to misclassifications of low-risk clients as high-risk,” explains founder Raghunandan G.
Since launching in 2021, Zolve has registered around 750,000 customers and has processed transactions exceeding $1.2 billion.
Not stopping there, the startup plans to introduce loans—including auto and personal loans—to enhance its service offerings.
Interestingly, the founder pointed out that car dealers in the U.S. typically require a 40% down payment from expats versus just 10% from locals—Zolve looks to level that playing field.
With plans to extend its services to Canada and possibly the UK and Australia next year, Zolve is gearing up for expansive growth.
The latest funding round included $51 million in equity and $200 million in debt, with major backers like Creaegis, HSBC, and others involved. Zolve envisions creating a seamless financial ecosystem for not only global citizens but also individuals moving within different regions.
