Zinclusive Raises $10 Million to Disrupt Predatory High-Interest Consumer Lending
Cheyenne, Wyoming, April 10th, 2024, Chainwire
- Zinclusive secures $10 million in funding to expand access to more affordable credit to disrupt the predatory high-interest consumer lending market.
- Leveraging innovative underwriting models and alternative data, Zinclusive aims to offer more competitive rates, benefiting customers with limited or poor credit histories.
- CEO Jay Abbasi emphasizes the importance of helping consumers by providing more affordable financial products and to help improve their financial well-being.
Zinclusive (“Zinclusive” or the “Company”), a financially inclusive lender built to disrupt the multi-billion dollar predatory high-interest unsecured consumer lending market, today announced it has closed $10 million in funding from a private family office.
The Company is on a mission to make finance more accessible, more affordable, and help break consumers out of cycles of high-interest debt. Zinclusive will offer personal credit and financial products to consumers who typically face limited options and predatory rates. With a focus on inclusion, collaboration, integrity, and innovation, Zinclusive will provide a positive, more ethical, and more effective lending experience for its customers.
By leveraging analytics and alternative data, Zinclusive will provide personal credit and financial products to customers who might not otherwise have access to them. Additionally, as a long-term financial partner, Zinclusive will be committed to helping its customers achieve financial well-being.
“For too long, a segment of lenders has ignored or taken advantage of customers by offering predatory rates. Those customers who can least afford it pay 14 times more in interest and fees compared to a prime borrower,” said Jay Abbasi, CEO of Zinclusive. “My time in this industry has shown me there is a better way—there is a path where lenders can better help consumers gain financial well-being. It’s not just about offering an alternative; it’s about setting a new standard for helping individuals who are plagued by high-interest lending.”
Zinclusive will be launching in Q2 of 2024 and is led by a team with decades of experience in lending at institutions such as JP Morgan Chase, Wells Fargo, Lloyd’s Bank, and Experian. The company plans to issue credit products at rates that are substantially less than what many competitors typically charge.
About Zinclusive
Zinclusive is a new innovative financially inclusive FinTech company that is on a mission to make financing more accessible and more affordable for underserved consumers. By harnessing advanced analytics and alternative data, Zinclusive seeks to extend credit to consumers who have little or no credit history. To learn more, visit www.zinclusive.com.
