Ann: Q1 FY24 Results - Zip achieves positive Group cash EBTDA, page-1777

They squabbled over valuation of the deal after the BNPL industry cratered and now walk away with absolutely nothing. Greedy founders should have taken what they could get after the DD revealed it wasn't worth $200-300M. They could have been less stupidly rich, instead they get NOTHING





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ZestMoney's troubles began in early 2023 when Walmart-owned fintech firm PhonePe decided to halt its proposed acquisition of the Bengaluru-based startup.

The deal, which was poised to fetch between $200-$300 million, has hit a snag in the latter stages of due diligence as the parties involved were unable to come to terms on the valuation, and other issues, such as high default rate or non-performing assets (about 10-12 per cent), surfaced during the process. The discussed valuation was a far cry from the $450 million ZestMoney earned during last funding round in September 2021
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