LIZZIE CHAPMAN

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-year to Rs 662.2 crore.

ZestMoney employees were informed by CBO Mandar Satpute to start looking for new jobs. Two major NBFCs who were supporting ZestMoney via credit lines withdrew them last week citing RBI's curbs on unsecured loans

The 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 ZestMoney was valued at $38 million.

With the company in turmoil, its lending partners have turned cautious, given the loans extended through ZestMoney will eventually be sitting on their own books and could slip into bad assets.

​​​In a town hall held on Monday, ZestMoney’s founders— Chapman, Priya Sharma and Ashish Ananthataman— informed employees that they would be stepping away from their operating roles and support the transition to a new management over the next four m...

“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,” said one of the persons briefed on the matter.

The Walmart-owned digital payments major is looking to strike a commercial agreement and may pay $8 million to ZestMoney for the licensing agreement

ZestMoney’s founders and leadership informed employees about the layoff at a town hall meeting on April 6, they said. The impact is expected to be felt across departments.

According to sources privy to the developments, lapses in due diligence, disagreements over valuation, sustainability of the business and shareholding structure of ZestMoney – were some of the reasons for the talks not fructifying.

This comes amid a global reset in the BNPL sector, fuelled by interest rate hikes and an overall squeeze in consumer spending. ZestMoney has been on the block, looking for a buyer as it struggled to raise fresh funds after tech investors turned over...

A startup’s founders, its leadership team, and the talent they attract will play a key role in turning its vision into a reality. That vision, combined with the startup’s ability to adapt to macro changes, turn a crisis into an opportunity, and buil...

Tortoise had earlier raised around $2.3 million this year from Vertex Ventures, a part of global investment firm Temasek.

At the ET Startup Awards, a panel that included some of India’s startup luminaries discussed the IPO opportunity for new-age companies and how they will transition from private to public markets.

Speaking about the slowdown in IPOs this year, Kiran of Accel India said, "Something has changed in the market now... companies continue to grow… but when the market changes, companies will not go public.”

BNPL will be big with more m-cap created in India than anywhere else, says ETSA winner

Tata Digital plans to offer stock options to prospective employees and revamp its organisational structure to attract the best talent around.

In 2015, amid a funding frenzy in the startup ecosystem locally, Lizzie Chapman founded ZestMoney with former colleagues from Wonga, to make digital goods and services accessible to the masses.

The startup should be launched and led by a woman who competes and wins against the best in the business.

ZestMoney will use the funding to expand its product suite, deepen its network, strengthen its balance sheet and launch new business lines. Zip will acquire a minority shareholding in the BNPL startup and a board seat as part of the investment.