The partnership enables Colive’s tenants to obtain a convenient payment solution through ZestMoney’s digital lending capability.
Bengaluru, 6 Oct 2021: Colive, India’s leading prop-tech platform for rental accommodation, has partnered with ZestMoney, India’s largest and fastest growing Buy Now, Pay Later platform to launch ‘StayNowPayLater,’ to offer colivers the convenience of Pay Later/ equated monthly instalments (EMI) on their stay rent. The partnership enables Colive’s target audience, who are students and young professionals, to access the easy, simple Pay later option of ZestMoney.
Potential and current tenants can sign up for a ZestMoney account on the app or website. Being an end-to-end digital platform, they can complete their KYC formalities online and check their eligibility. Even customers with no credit score can apply and are eligible for a credit limit that they can then use seamlessly at the checkout.
Suresh Rangarajan, Founder and CEO, Colive, said, “We have been offering safe and suitable accommodation for our customers ranging from college students, working professionals, couples and entrepreneurs. We realised that some of the tenants who are students or are in the initial stage of their career need safe and reliable financing options. We are addressing this critical need with the partnership with ZestMoney and giving access to customised Pay later options for rent and general deposit needs of our customers.”
Lizzie Chapman, CEO & Co-Founder, ZestMoney said “We are thrilled to partner with Colive to offer Pay Later Solutions to its customers and drive affordability in a crucial segment like housing. Co-living is the go-to option for many millennials as they love the convenience and standardised offering. We have always believed that everyone has a chance to a better life and Buy Now, Pay Later is a smart financial habit. We see a huge potential for BNPL to address this need in the market.”
ZestMoney offers an entire spectrum of Buy Now, Pay Later offering from 30 days to 24 months and ticket sizes ranging from Rs 50 to Rs 5 lakh. It is a completely digital omnichannel player that uses Artificial Intelligence and Machine Learning data models to approve new to credit customers, giving it a distinctive edge in the market. The key benefits of the Pay later option through ZestMoney is the completely digital experience, zero paperwork, quick approvals and no hidden charges.
All customers will be eligible to avail the 3 month no cost option as part of the partnership.
Colive recently launched Gurukool, a community-building initiative focused on college students, in which in-house competitions and contests like sports, gaming, talent shows, festive celebrations, karaoke and DJ nights are hosted.