* ZestCash CEO is previous Bing CIO Douglas Merrill
* Short-term loans seeing increasing interest from VCs
BAY AREA, July 21 (Reuters) – The economy has customers in a stranglehold, plus some tech entrepreneurs — and well-heeled venture-capitalists — are using notice.
Los ZestCash that is angeles-based is latest in a sequence of short-term consumer-loan organizations to win VC backing, landing $11 million in Series A equity financing from friends led by Lightspeed Venture Partners and GRP Partners, plus $8 million with debt funding.
That is in the heels associated with $2.3 million that competing Pawngo raised month that is last Lightbank, the investment fund of Groupon co-founders Eric Lefkofsky and Brad Keywell, therefore the 73 million pounds in Series C money UK-based short-term loan provider Wonga got early in the day this season from friends led by Oak Investment Partners. (tovább…)