PC: Mint
Lizzie Chapman, Swiffy Labs co-founder, has officially resigned from her operational position at the Reliance-funded financial services infrastructure startup. The move follows Chapman’s desire to concentrate on other projects after co-founding Swiffy Labs in August 2023, after the shutdown of her last company, ZestMoney.
Swiffy Labs seeks to transform the embedded finance industry by creating end-to-end solutions for loan origination, loan servicing, and payment platforms. Swiffy Labs is poised to assist businesses in embedding financial services within their platforms, which in turn will help improve customer experiences.
Advisory Role
Even though Chapman has stepped down from day-to-day work, she will still be attached to Swiffy Labs in an advisory role. This helps her give counsel while seeking out new ventures. A representative for Swiffy Labs affirmed the arrangement, which means that her experience will remain beneficial to the startup’s future development and strategy.
New Ventures
In 2024, Lizzie Chapman founded Berkeley Square Finance Group (BSFG), where she is now a partner. BSFG specializes in helping lending companies raise debt funding and access capital markets, enabling them to strengthen their financial strength. She is accompanied in this endeavor by Parikshit Chitalkar, the ex-CTO of fintech lending startup Stashfin, and Siddharth Das, who was previously co-CEO at Jio Financial Services until 2019.
Chapman’s move to BSFG is a major change in her professional direction, as she uses her deep background in the financial technology industry to serve other companies.
Background on ZestMoney
Prior to joining Swiffy Labs, Lizzie Chapman co-founded ZestMoney, which was one company that received significant traction in the buy now, pay later (BNPL) sector. ZestMoney raised about $125 million before DMI Group acquired it in a fire sale. The business, however, experienced serious challenges, including tight regulations on BNPL startups and a tough funding environment that ultimately contributed to its shut-down.
Chapman, her two co-founders, left ZestMoney six months before its acquisition, highlighting the strains fintech businesses have endured in recent years.
In summary, Lizzie Chapman’s exit from Swiffy Labs marks a new chapter in her career as she turns attention to her new venture with Berkeley Square Finance Group. Although her departure from an active role could be seen as raising issues surrounding Swiffy Labs’ destiny, advisory position guarantees that her experience and input will still shape the future of the firm. As the dynamics of the financial services sector continue to change, both Chapman and Swiffy Labs are set to contribute a lot in their fields.
