Cross-border neobank Zolve raises $251 million in equity and debt
12 Mar 2025, 08:34 PMThe Series B round was led by Creaegis, with participation from HSBC, SBI Investment, GMO Venture Partners, DG Daiwa Ventures, and existing investors. This also includes a $200 million warehouse line (debt).
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Cross-border neobanking platform Zolve has raised $251 million in equity and debt funding to expand its financial solutions for skilled professionals and international students moving abroad.
The Series B round was led by Creaegis, with participation from HSBC, SBI Investment, GMO Venture Partners, DG Daiwa Ventures, and existing investors such as Accel, Lightspeed Venture Partners, Sparta Group, and DST Global.
This includes a $200 million warehouse line (debt) from Community Investment Management to bolster its growing credit portfolio.
In October 2023, the company raised $100 million in a warehouse debt facility from US-based impact investor Community Investment Management (CIM). Zolve has so far secured $406 million in equity and debt financing in total.
Founded in 2021 by Raghunandan G, Zolve offers immigrants an FDIC-insured US bank account and a credit card without requiring a Social Security number in the United States. Th company claims to have reached the 750,000-customer mark, having facilitated the movement of over $1.2 billion.
With the fresh capital, Zolve plans to expand into Canada, the UK, and Australia, while also diversifying its credit portfolio with auto loans, personal loans, and education loans. In the long term, the company aims to evolve into a full-stack financial platform, offering international money transfers, insurance, and investment products to global citizens.
The firm claims that it became customer-level profitable in early 2024 and is on track for company-level profitability by the end of 2025.
"The financial system isn't designed for mobility," said Raghu G, founder and CEO of Zolve. "When talented people move countries, their financial history is erased overnight. We're changing that by giving global citizens access to credit and banking from the moment they arrive."
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