Zest AI secures $200 million to expand credit tech and pursue acquisitions

Zest AI, a credit underwriting solutions provider, has secured a $200 million growth investment from its long-time investor, Insight Partners. This funding marks Insight’s largest contribution to Zest AI, following earlier investments of $15 million in 2020 and $50 million in 2022. The company has demonstrated impressive growth, doubling its customer base annually since 2020 and achieving an average annual growth rate exceeding 50%.

With this new funding, Zest AI aims to accelerate its product development and pursue strategic acquisitions. The company’s CEO, Mike de Vere, highlights plans to enhance its capabilities in loan underwriting, fraud protection, marketing, and data intelligence. Zest AI has already introduced innovative products like LuLu, a lending intelligence tool, and Zest Protect, a fraud detection solution, earlier this year.

Founded in 2009, Zest AI specializes in leveraging artificial intelligence to improve credit scoring accuracy and transparency for banks and credit unions across the U.S. The investment reflects the growing importance of AI-driven financial solutions and positions Zest AI as a key player in reshaping credit technology.