Weeks after the closure of as soon as unicorn fintech participant Zestmoney, it’s co-founder Lizzie Chapman is alleged to have joined Reliance Industries’ subsidiary, Jio Platforms. Extremely positioned sources say Chapman has began work on the Mumbai headquartered firm and she or he could be main the group which is constructing the tremendous app for Jio Platforms. “She’s already onboard. Her position doesn’t have a lot to do with Jio Monetary Companies for now,” mentioned a senior banker conscious of the matter.
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When reached out, the spokesperson for Reliance Industries mentioned the corporate wouldn’t wish to touch upon human useful resource associated issues. Chapman denied the event, calling it speculative. Her LinkedIn profile indicated her return to Mumbai from Bengaluru.
Jio Platforms is the subsidiary of RIL, which homes a number of digital companies of RIL.
In 2020, RIL raised practically ₹1.65 lakh crore by promoting round 33 per cent stake it held in Jio Platforms. A clutch of marque buyers together with Fb (holding 9.99 per cent stake), Google (7.7 per cent stake), Common Atlantic, personal fairness main KKR, Abu Dhabi Funding Authority and Mubadala are among the many famous buyers of Jio Platforms. The corporate is alleged to be engaged on creating a brilliant app which might embody all its enterprise verticals. With the work gaining momentum in current months, Chapman has apparently been roped in to hurry up the method.
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Chapman’s India journey
Again in 2011, Chapman got here to India because the nation head of Wonga, now defunct Britan based mostly payday mortgage startup. After a one-year stint at DSB Financial institution India the place she was heading its ‘Digibank’ initiative, in 2015 together with Ashish Anantharaman and Priya Sharma, Chapman’s former colleagues at Wonga, the trio based Zestmoney in August 2015. In Could this 12 months, merger talks with PhonePe fell aside and the founders moved out of the corporate. On December 6, Zestmoney’s administration in a city corridor assembly is alleged to have knowledgeable its workers that the corporate could be winding down by December 31. Curiously, a couple of days again on LinkedIn, it acquired an acquisition provide from a hardly identified fintech referred to as KreditPE.
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