Liquidity Events
DMI Group acquires assets of BNPL startup ZestMoney
Non-banking financial company (NBFC) DMI Finance has acquired the assets of beleaguered Buy Now Pay Later (BNPL) startup ZestMoney . Post the deal, DMI Finance will be a preferred lender on the Zest platform and will have the exclusive right to all Zest brands. The acquisition comes weeks after the formal shutdown of Zestmoney, which laid off its entire workforce by December 2023.ZestMoney had raised around USD 125 million in its lifetime which also included a significant debt component.
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