Zolve, a cross border neobank, has secured a warehouse debt facility of up USD 100 million from Community Investment Management (CIM).
The USD 100 million debt fund secured from CIM will be used to cater to offering credit products to migrants in the US. This infusion of funds will enable Zolve to further help individuals from a multitude of geographical locations and demographic backgrounds on their financial journeys, ultimately elevating their banking experience within the United States, the company said in a statement.
Since its inception in August 2021, the platform claims that it has attracted around 500,000 users, facilitating transactions worth more than USD 600 million.
“Zolve is driven by a vision of growth and inclusivity, breaking down financial barriers,” said Raghunandan G, Founder of Zolve. “I believe that when individuals embark on journeys to new countries, be it for education or work, financial barriers should never impede their progress. With the recent capital we’ve raised, we move closer to realizing a world where access to essential financial resources transcends borders and backgrounds.”
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