VC Fund Investments
BNPL player ZestMoney raises more funds from existing investors: report
Bengaluru-headquartered ‘buy-now-pay-later' (BNPL) startup ZestMoney's existing investors including Quona Capital, Omidyar Network India, Flourish Ventures, Zip and Scarlet Capital have invested additional capital in the company. ZestMoney claims to have 17 million customers, enabling loan disbursals of INR 400 crore per month. The company has 27 lending partners and merchant partnerships with 10,000 online brands and 75,000 offline stores. In March, Walmart-backed PhonePe called off its deal with ZestMoney over due diligence concerns. In May of 2023, all the founders of ZestMoney resigned and a new leadership team was formed. In September 2022, ZestMoney has raised USD 50 million from Australian BNPL fintech Zip Co.
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