Zip paid $50m USD for about 11%.From 2022 annual...

Zip paid $50m USD for about 11%.

From 2022 annual report:

ZESTMONEYOn 23 September 2021, the consolidated entity invested $69.2 million (US$50.0 million) to acquire an 11.1% interest in Primrose Hill Ventures Pte Ltd, the parent company of ZestMoney, a provider of BNPL services to consumers in India. The consolidated entity has accounted for the investment as an associate due to the consolidated entity’s significant influence comprising board representation and voting rights arising from this investment. The investment has been initially recorded at cost, being the fair value upon acquisition of $69.2 million. The consolidated entity’s shareholding in ZestMoney diluted from 11.1% to 10.2% at 30 June 2022, due to additional capital raised from other investors.For the year ended 30 June 2022, the share of the loss of ZestMoney was $6.6 million. An unrealised foreign exchange gain of $2.9 million on the investment resulted in the carrying amount of the consolidated entity’s investment in ZestMoney being recorded at $65.4 million as at 30 June 2022. Since 23 September 2021 to 30 June 2022, ZestMoney generated revenue of $36.7 million and loss after tax of $60.5 million. At 30 June 2022. The total assets and total liabilities of ZestMoney were $73.0 million and $49.7 million respectively, with net assets of $23.3 million.