Peter Thiel knows a thing or two about disruptive financial innovations. As one of the co-founders of PayPal, the Silicon Valley titan ushered in an era of online payments that forever changed the way commerce was conducted on the Internet. Through Clarium Capital, Founders Fund, and his own angel portfolio, Thiel has also backed credit card processing startup Stripe, as well as Palantir, BillGuard, BitPay, and numerous other companies redefining the way we transact in the digital age. (Disclosure: Founders Fund is also an investor in PandoDaily.)
It should come as little surprise then to learn that Thiel will personally lead the $20 million Series C financing of Los Angeles-based, big data-powered credit underwriting startup ZestFinance (fka, ZestCash). The round brings the company’s total capitalization to $112 million including previous backers Matrix Partners, Victory Park Capital, Lightspeed Venture Partners, GRP Partners, Flybridge Capital Partners, Lighthouse Capital Partners.