Texas-based neobank Zolve has secured US$251 million in its latest equity and debt financing round.

The round was led by Indian private equity firm Creaegis, an existing investor, with participation from HSBC, SBI Investment, and others.

This latest funding, the largest in the company’s history, has resulted in a valuation of approximately US$800 million, according to Reuters.

The investment comes at a time when venture funding in the United States has remained subdued, while activity in India has seen a notable increase.

Creaegis, headquartered in Bengaluru, also led Zolve’s previous financing round in 2024.

Zolve aims to address credit challenges faced by newcomers to the United States, who are often considered high-risk borrowers.

The company facilitates access to financial services from their first day in the country.

“When talented individuals relocate, their financial history is effectively erased. We are addressing this by providing global citizens with access to credit and banking from day one,”

said Zolve’s founder and CEO, Raghu Gangappa.

The funding will support the company’s expansion and business growth.

Founded in 2021, Zolve currently serves over 750,000 customers and plans to extend its operations to Canada, the UK, and Australia. It also intends to diversify its offerings to include auto, personal, and education loans.

The round also saw participation from existing investors, including Accel, Lightspeed Venture Partners, and Sparta Group.

Featured image credit: edited from freepik