Debt financing
‘BNPL' platform ZestMoney raises Rs.20-Cr
‘Buy Now, Pay Later' (BNPL) platform ZestMoney has raised INR 20 crore by issuing non-convertible debentures (NCDs) through private placement to its existing investor Alteria Capital. The Bengaluru-based startup had raised USD 50 million from Australian peer Zip Co Ltd. as part of its Series C funding round in September 2021. The new round takes the startup's total funding to about USD 113 million. It counts Goldman Sachs, Quona Capital, PayU, and Xiaomi among its early backers. ZestMoney offers BNPL plans of ticket sizes INR 50 to INR 5 lakh payable over 30 days to 24 months. It claims to have partnered with 25 banks, non-banking lenders, and merchants such as Amazon, Flipkart, Google Pay, Apple, and Xiaomi to offer its services to customers.
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