Zinclusive – a financially inclusive lender built to disrupt the multi-billion dollar predatory high-interest unsecured consumer lending market -announced it has raised $10 million from a private family office to expand access to more affordable credit to disrupt the predatory high-interest consumer lending market. Utilizing innovative underwriting models and alternative data, Zinclusive aims to offer more competitive rates, benefiting customers with limited or poor credit histories.
The company aims to make finance more accessible and affordable and help break consumers out of cycles of high-interest debt. And Zinclusive will offer personal credit and financial products to consumers who typically face limited options and predatory rates. With a focus on inclusion, collaboration, integrity, and innovation, Zinclusive will provide its customers with a positive, more ethical, and more effective lending experience.
By utilizing analytics and alternative data, Zinclusive will offer personal credit and financial products to customers who might not otherwise have access to them. And as a long-term financial partner, Zinclusive will be committed to helping its customers achieve economic well-being.
Zinclusive will launch in Q2 of 2024 and is led by a team with decades of experience in lending at institutions like JPMorgan Chase, Wells Fargo, Lloyd’s Bank, and Experian. And the company plans to issue credit products at rates substantially less than what many competitors typically charge.
KEY QUOTE:
“For too long, a segment of lenders has ignored or taken advantage of customers by offering predatory rates. Those customers who can least afford it pay 14 times more in interest and fees compared to a prime borrower. My time in this industry has shown me there is a better way – there is a path where lenders can better help consumers gain financial well-being. It’s not just about offering an alternative; it’s about setting a new standard for helping individuals who are plagued by high-interest lending.”
– Jay Abbasi, CEO of Zinclusive
