About Zolve
Zolve is a company based in New York (United States) founded in 2020 by Raghunandan Gangappa. It operates as a FinTech. Zolve has raised $106 million across 5 funding rounds from investors including HSBC, Accel and Lightspeed Venture Partners. The company has 119 employees as of April 04, 2024. Zolve offers products and services including USA Credit Cards, Overseas Student Loan, and USA Checking Account. Zolve operates in a competitive market with competitors including Nomad, CAURI Money, Emigre, Adro and Aeldra, among others.
- Headquarter New York, United States
- Employees 119 as on 04 Apr, 2024
- Founders Raghunandan Gangappa
- Stage Minicorn
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Zolve Innovations Private Limited
- Date of Incorporation 22 Dec, 2020
- Jurisdiction Bangalore South, Karnataka, India
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Annual Revenue
$7.89 M (USD)28.87as on Mar 31, 2023
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Net Profit
$-271.53 K (USD)-3614.89as on Mar 31, 2023
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EBITDA
$-205.77 K (USD)-427.64as on Mar 31, 2023
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Total Equity Funding
$106 M (USD)
in 5 rounds
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Latest Funding Round
$51 M (USD), Series B
Mar 11, 2025
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Investors
HSBC
& 19 more
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Employee Count
119
as on Apr 04, 2024
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Products & Services of Zolve
Zolve offers a comprehensive portfolio of products and services, including USA Credit Cards, Overseas Student Loan, and USA Checking Account. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Credit cards for use in the USA are offered.
Loans for overseas students are provided by Zolve.
Checking accounts in the USA are made available.
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Funding Insights of Zolve
Zolve has successfully raised a total of $106M across 5 strategic funding rounds. The most recent funding activity was a Series B round of $51 million completed in March 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Series B — $51.0M
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First Round
First Round
(16 Feb 2021)
- Investors Count 20
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2025 | Amount | Debt – Conventional - Zolve | Valuation | Creaegis | |
| Mar, 2025 | Amount | Series B - Zolve | Valuation | Creaegis | |
| Oct, 2023 | Amount | Debt – Conventional - Zolve | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Zolve
Zolve has secured backing from 20 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include HSBC, Accel and Lightspeed Venture Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Financial schemes and rights management under Creaegis.
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Founded Year | Domain | Location | |
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Venture capital funds are managed to support unlisted companies' growth.
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Founded Year | Domain | Location | |
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Early-stage tech ventures in the US and Asia are funded.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Zolve
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Zolve
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Zolve Comparisons
Competitors of Zolve
Zolve operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Nomad, CAURI Money, Emigre, Adro and Aeldra, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Digital banking services for individuals are offered by Nomad.
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| domain | founded_year | HQ Location |
Developer of a digital bank for ex-pats
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| domain | founded_year | HQ Location |
Provides platform for NRIs in US to open accounts, send remittances, and invest in India.
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| domain | founded_year | HQ Location |
Financial services are offered to international clients in the US.
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| domain | founded_year | HQ Location |
Operates as a digital bank for individuals, investors, and businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Zolve
Frequently Asked Questions about Zolve
When was Zolve founded?
Zolve was founded in 2020 and raised its 1st funding round 1 year after it was founded.
Where is Zolve located?
Zolve is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Zolve a funded company?
Zolve is a funded company, having raised a total of $106M across 5 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $100M, raised on Feb 16, 2021.
How many employees does Zolve have?
As of Apr 04, 2024, the latest employee count at Zolve is 119.
What is the annual revenue of Zolve?
Annual revenue of Zolve is $7.89M as on Mar 31, 2023.
What does Zolve do?
Various financial solutions are offered by Zolve, targeting individuals in need of USA credit cards, overseas student loans, and USA checking accounts. Services are designed to support international students and residents with banking needs in the United States. The focus is placed on accessible financial products within the consumer banking sector.
Who are the top competitors of Zolve?
Zolve's top competitors include Nomad, Adro and CAURI Money.
What products or services does Zolve offer?
Zolve offers USA Credit Cards, Overseas Student Loan, and USA Checking Account.
Who are Zolve's investors?
Zolve has 20 investors. Key investors include HSBC, Accel, Lightspeed Venture Partners, Lightspeed India, and Community Investment Management.
What is Zolve's valuation?
The valuation of Zolve is $210M as of Oct 2021.
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