LIZZIE CHAPMAN
![ZestMoney posts Rs 412 crore loss for FY23, revenues increase 72%](https://img.etimg.com/thumb/msid-106515699,width-100,height-75,resizemode-4/tech/startups/zestmoney-posts-rs-412-crore-loss-for-fy23-revenues-increase-72.jpg)
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-year to Rs 662.2 crore.
![ZestMoney to shut down by December-end, lay off 150 employees](https://img.etimg.com/thumb/msid-105762328,width-100,height-75,resizemode-4/tech/startups/zestmoney-to-shut-ops-lays-off-150-employees.jpg)
ZestMoney to shut down by December-end, lay off 150 employees
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
![Lifeline for ZestMoney to turn around business as existing backers pump funds](https://img.etimg.com/thumb/msid-101465851,width-100,height-75,resizemode-4/tech/technology/lifeline-for-zestmoney-to-turn-around-business-as-existing-backers-pump-funds.jpg)
Lifeline for ZestMoney to turn around business as existing backers pump funds
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.
![Lending taps starting to dry up for crisis-hit ZestMoney](https://img.etimg.com/thumb/msid-100284781,width-100,height-75,resizemode-4/tech/startups/lender-partners-go-slow-as-zestmoney-enters-crisis-mode.jpg)
Lending taps starting to dry up for crisis-hit ZestMoney
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.
![ZestMoney top leadership to form new management after founders leave](https://img.etimg.com/thumb/msid-100271248,width-100,height-75,resizemode-4/tech/startups/zestmoney-top-leadership-to-form-new-management-after-founders-leave.jpg)
ZestMoney top leadership to form new management after founders leave
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 months.
![ZestMoney founders leaving troubled fintech firm post PhonePe deal collapse](https://img.etimg.com/thumb/msid-100257836,width-100,height-75,resizemode-4/tech/startups/zestmoney-founders-to-exit-fintech-firm-post-phonepe-deal-falling-through.jpg)
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,” said one of the persons briefed on the matter.
ETtech Exclusive: PhonePe may waive off ZestMoney’s $18 million debt after failed acquisition
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 to lay off 100 employees after PhonePe acquisition falls through
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.
ETtech Exclusive: PhonePe calls off deal to acquire ZestMoney amid due diligence concerns
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.
Scoop: PhonePe may buy BNPL startup ZestMoney in big consolidation move
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 overly skittish this year.
ET Startup Awards 2022: Value creation will matter more than valuation
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 build a competitive, resilient and sustainable business will differentiate it from the also-rans in a crowded field, say jury members.
Fintech firm Tortoise raises undisclosed sum in funding from cofounders of Swiggy, ZestMoney
Tortoise had earlier raised around $2.3 million this year from Vertex Ventures, a part of global investment firm Temasek.
ETSA 2021 Panel discussion: Long way to go, don't read too much into tech IPO slowdown
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.
ETSA 2021: Too much focus on valuations, Delhivery CEO says in panel discussion on IPOs
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.”
India ahead of global fintech in having more women leaders, says Lizzie Chapman
BNPL will be big with more m-cap created in India than anywhere else, says ETSA winner
Tata Digital's startup moves; ZestMoney CEO on women in fintech
Tata Digital plans to offer stock options to prospective employees and revamp its organisational structure to attract the best talent around.
ET Startup Awards 2021: ZestMoney’s Lizzie Chapman wins the Woman Ahead award
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.
ET Startup Awards 2021: Nominees for Woman Ahead
The startup should be launched and led by a woman who competes and wins against the best in the business.
BNPL startup ZestMoney raises $50 million from Australia’s Zip Co
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.
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