Zolve Secures $251M to Expand Globally

Zolve, a Houston-based neobank targeting skilled immigrants moving to the U.S., has secured $251 million in a combination of equity and debt funding, led by Creaegis. Notable investors in this significant funding round include HSBC and SBI Investment, valuing the company at approximately $800 million. Founded by Raghu Gangappa, Zolve aims to solve the issue faced by migrants who struggle to access financial services due to lacking a U.S. credit history by utilizing credit data from migrants' home countries. The neobank offers banking and credit products, including credit cards and loans, to global citizens as soon as they arrive in the U.S. With a customer base of 750,000 and over $1.2 billion in processed transactions, Zolve plans to expand its services to Canada, the U.K., and Australia. This funding will facilitate their growth and the introduction of additional financial products like auto, personal, and education loans.