Zestmoney cofounder Lizzie Chapman quits Reliance-backed Swiffy Labs

Swiffy Labs cofounder Lizzie Chapman has quit the company, according to people in the know.

In August 2023, Chapman started the firm in the financial services infrastructure space after her previous venture ZestMoney shut down, with the backing of Reliance Jio. The company is building loan origination, loan management and payment systems to power embedded financial services.

Responding to ET's queries, a Swiffy Labs spokesperson said: Lizzie Chapman, who joined Swiffy Labs as a founding team member, continues her association with the company in an advisory role.


The former Zestmoney CEO also started Berkeley Square Finance Group (BSFG) in 2024, assuming the role of a partner at the firm. As per the company’s website, it helps lending firms raise debt funding and access capital markets for their financial requirements.

Also Read: ZestMoney founders leaving troubled fintech firm post PhonePe deal collapse

Parikshit Chitalkar, ex-CTO of fintech lending startup Stashfin, and Siddharth Das, who was the co-CEO at Jio Financial Services till 2019, are the other two partners at BSFG.

Ex-Goldman Sachs executive Chapman came to India as the head of Wonga, a UK-based digital lending startup. She went on to start ZestMoney, one of the early buy-now-pay-later startups in India, back in 2015. While ZestMoney went on to raise $140 million in equity funding over multiple rounds from large investors, the company shut down in the middle of 2023.

ZestMoney was acquired by the DMI Group, which runs non-banking finance company DMI Finance, in January 2024 after prolonged sale talks with PhonePe fell through.

Chapman then joined hands with her previous ZestMoney cofounder Anantharaman to start Swiffy Labs. Priya Sharma, the third cofounder of ZestMoney, is now with the Silicon Valley-based startup incubator South Park Commons.