Zest AI Raises Over $50M in Growth Funding
- Zest AI, a Los Angeles, CA-based provider of an automating underwriting platform powered by AI, raised over $50M in growth funding
- The round was led by Insight Partners and CMFG Ventures, with participation from CU Direct, Curql, Suncoast Credit Union, Golden1 Credit Union, Hawaii USA Federal Credit Union, and NorthGate Capital
- The company intends to use the funds to expand access to AI-automated credit underwriting for all lenders
- ZestAI works with financial institutions to provide AI-driven credit solutions to their borrowers
- Its technology uses AI to identify, predict, and remove inherent biases and render more consistent and equitable lending decisions
- The technology allows customers to approve more borrowers without taking on more risk, resulting in increases in approvals and full automation
