In a surprising turn of events, ZestMoney co-founder Lizzie Chapman has reportedly taken on a new role within Jio Platforms, the digital subsidiary of Reliance Industries, led by Mukesh Ambani. This development comes hot on the heels of the closure of ZestMoney, which faced challenges in finding a buyer for the financially stressed firm.
ZestMoney, founded in 2015 by Lizzie Chapman along with Priya Sharma and Ashish Anantharaman, reached its pinnacle with a valuation of $435 million or over Rs 3200 crore in September 2021. However, the company’s fortunes took a downturn, leading to the exit of its co-founders in May 2023 after a proposed deal with PhonePe to acquire the struggling firm fell through.
Following the closure of ZestMoney, reports have emerged that Lizzie Chapman has embarked on a new professional journey within Jio Platforms. It is stated that she will be spearheading the Jio super app project, adding a layer of intrigue to her role within the conglomerate. However, there appears to be a degree of ambiguity surrounding the specifics of her position, with sources suggesting that, at least for now, her responsibilities may not be directly related to Jio Financial Services.
A banker familiar with the matter has indicated that Chapman has already assumed her new role within Jio Platforms. Despite these reports, there seems to be some discrepancy, as Chapman herself has dismissed the news as speculative and denied any formal joining of the company.
The journey of ZestMoney, once a rising star in the fintech space, and the subsequent career move of its co-founder, Lizzie Chapman, underscore the dynamic nature of the Indian business landscape. As Reliance Industries continues to bolster its digital footprint through Jio Platforms, Chapman’s role in the Jio super app project adds an intriguing chapter to the evolving narrative of one of India’s most influential conglomerates.
As the industry awaits official confirmation and further details on Lizzie Chapman’s role within Jio Platforms, this development piques the curiosity of observers and industry insiders alike, leaving room for speculation on the potential synergy between the fintech expertise of ZestMoney’s co-founder and the ambitious digital ventures of Jio Platforms.