Lizzie Chapman Quits As Cofounder Of Jio-Backed SwiffyLabs

Lizzie Chapman, the cofounder of Jio Platforms-backed SwiffyLabs, has stepped down from her executive position less than a year after its official launch, sources told Inc42.

Chapman didn’t respond to Inc42’s queries on the development. The story will be updated upon receiving a response.

A spokesperson of SwiffyLabs told Inc42 that Chapman, who joined SwiffyLabs as a founding team member, would continue to serve the company in an advisory capacity.

The development was first reported by the Economic Times. 

Chapman cofounded SwiffyLabs in April 2024 in partnership with Ashish Anantharaman after both of them quit ZestMoney in 2023. 

As per SwiffyLabs’s website, the B2B company provides an end-to-end loan management system and managed services to startups in partnership with financial institutions.

The Bengaluru-headquartered startup offers a range of financial services to customers, such as loans against shares, mutual funds, bonds, insurance policies, payment gateway services, point of sale, and UPI products among others.

SwiffyLabs is housed under Reliance Industries Ltd’s (RIL’s) subsidiary Jio Platforms. Reports surfaced last year that Jio Platforms was planning to invest $100 Mn in SwiffyLabs.

Chapman cofounded ZestMoney, a buy now pay later (BNPL) startup, along with Priya Sharma and Anantharaman in 2015. The B2C startup raised over $125 Mn in funding in its lifetime. In January last year, ZestMoney was acquired by DMI Finance in a distress sale.

As per Chapman’s LinkedIn profile, she has been a founder member of the Digital Lenders Association of India, a member of the National Startup Advisory Council and the Innovation Council of the National Payments Corporation of India. 

In October 2024, she joined Berkeley Square Finance Group at a partner level. Previously, she also served as a non-executive director of Mahila Money, IndiaMART, and Cloud Nine.

Chapman’s departure from SwiffyLabs comes at a time when India’s fintech market is poised to become a $2.1 Tn+ opportunity by 2030, spurred by sectors like lending tech, wealthtech and insurtech among others.

According to Inc42’s ‘Indian Tech Startup Funding Report 2024’, homegrown fintech startups raised $2.5 Bn in funding across 162 deals. In comparison, the sector had attracted investments of $3 Bn and $4.8 Bn in 2023 and 2022, respectively.