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ZestMoney posts Rs 412 crore loss for FY23, revenues increase 72%Overall revenue for the buy-now-pay-later platform grew 72% to Rs 250 crore during the year. Total expenses in FY23 also rose 21% year-on-y...- DMI, Aditya Birla Finance in race to scoop up ZestMoney in firesaleZestMoney, which was offering buy-now-pay-later (BNPL) loans to customers at ecommerce and offline checkout points, had around December 5 i...
- ZestMoney to shut down by December-end, lay off 150 employeesZestMoney employees were informed by CBO Mandar Satpute to start looking for new jobs. Two major NBFCs who were supporting ZestMoney via cr...
- ZestMoney raises fresh capital from existing investorsAfter a proposed acquisition deal with PhonePe fell through and its founders moved on, this round could be a lifeline for the pay-later sta...
- Lifeline for ZestMoney to turn around business as existing backers pump fundsThe funding comes in the wake of payments major PayU writing off its investment in the company. Last fiscal, PayU’s close to 15% stake in Z...
- Walmart shareholding in PhonePe reduces to 85%Since January, PhonePe has raised $850 million via five deals, including with private equity firms General Atlantic, Ribbit Capital and Tig...
- PhonePe gets another $100 million from General Atlantic; total funding rises to $850 millionWalmart Inc-owned Indian payments firm PhonePe on Monday said that it has secured an additional $100 million from private equity firm Gener...
- Lending taps starting to dry up for crisis-hit ZestMoneyWith the company in turmoil, its lending partners have turned cautious, given the loans extended through ZestMoney will eventually be sitti...
- Zomato goes live with UPI offering, Flipkart to follow; ZestMoney gets new leadershipGurgaon-based food-delivery company Zomato has gone live with a third-party Unified Payments Interface (UPI) application for some of its us...
- ZestMoney founders to exit troubled fintech; Amazon hikes seller fee, lays off staff in IndiaCapping months of twists and turns at the troubled fintech startup ZestMoney, its founders Lizzie Chapman, Priya Sharma and Ashish Ananthar...
- ZestMoney top leadership to form new management after founders leaveIn a town hall held on Monday, ZestMoney’s founders— Chapman, Priya Sharma and Ashish Ananthataman— informed employees that they would be s...
- ZestMoney founders leaving troubled fintech firm post PhonePe deal collapse“There was a town hall held on Monday by the management where the founders informed the rest of the team that they are leaving the company,...
- Fresh twist in PhonePe-ZestMoney deal; neobank Jupiter secures NBFC licenceDigital payments major PhonePe is looking to close a commercial arrangement with ZestMoney after deal talks between the two companies fell ...
- ETtech Exclusive: PhonePe may waive off ZestMoney’s $18 million debt after failed acquisitionThe Walmart-owned digital payments major is looking to strike a commercial agreement and may pay $8 million to ZestMoney for the licensing ...
- TCS reports weaker than expected Q4 numbers; PhonePe chalks up another $100m from GA, more expectedTata Consultancy Services (TCS) said its net profit for the final quarter of fiscal 2023 rose 15% on-year, but India’s largest software exp...
- PhonePe chalks up further $100 million from General Atlantic; more expectedPrivate equity, co-investors have infused $450 m in ongoing fundraise, may go up to $600m
- ZestMoney to lay off 100 employees after PhonePe acquisition falls throughZestMoney’s founders and leadership informed employees about the layoff at a town hall meeting on April 6, they said. The impact is expecte...
- Why PhonePe-ZestMoney deal fell through; top leadership changes at Swiggy InstamartPhonePe has walked away from buying cash-strapped buy-now-pay-later (BNPL) startup ZestMoney amid due diligence concerns, per multiple peop...
- PhonePe lands $100-million top-up at $12-billion valuationThe fintech startup in January had raised $350 million from General Atlantic; plans $1-billion primary fundraise.
- PhonePe raises $350 million funding from General Atlantic at $12 billion pre-money valuationWhile the primary fundraising is estimated to be $1 billion in size, a secondary share sale will take the total financing to a range of $1....
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