Backed by Jio Platforms, ZestMoney founders launch new venture SwiffyLabs

Lizzie Chapman and Ashish Anantharaman, the founders of “buy now pay later” (BNPL) firm ZestMoney, have launched a startup called SwiffyLabs, a business-to-business (B2B) fintech company building infrastructure for banks and financial institutions, according to sources.

The venture has received backing from Jio Platforms, a subsidiary of Mukesh Ambani-owned Reliance Industries, according to people familiar with the development.

This development comes almost a month after ZestMoney, founded in 2015, shut down amid an unsuccessful attempt to revive its business under new management and regulatory uncertainty.