Three Month Old Basix Loan Services Makes Millions: ZestFinance Secures 0M Debt …

Not yet a toddler, the three month old loan service Basix has hit some enviable milestones. California-based online lending startup, ZestFinance, has secured a $150 million debt financing deal with global investment giant Fortress Investment Group for Basix. Founded in 2009 by former Google CIO Douglas Merrill, ZestFinance deploys data analysis and machine learning for credit scoring to enable lenders to accurately gauge prospective borrowers, using tens of thousands of data points, including personal spending habits and social media, to assess a borrower’s ability to repay loans. “ZestFinance was founded to make fair and transparent credit available to everyone, especially those left out of traditional credit systems,” said Douglas Merrill, Founder & CEO of ZestFinance when Basix launched in July. “Basix will serve regular, hard-working people whose credit scores are just below levels that…


Link to Full Article: Three Month Old Basix Loan Services Makes Millions: ZestFinance Secures 0M Debt …