New Delhi: Buy Now, Pay Later (BNPL) Startup zestmoney has decided to cease operations. The company’s management told employees at a town hall Tuesday that the move will affect about 150 employees. Zestmoney did not comment. It is learned that the company will be closed by the end of this month.
This step has been taken after the efforts of the Bengaluru-based company start upThe acquisition by larger rival PhonePe failed. The deal was canceled earlier this year after the due diligence process conducted by PhonePe found that the evaluation of the potential acquisition failed to meet its standards. However, the Walmart-owned fintech major hired about 130 of Zestmoney’s employees.
This step has been taken after the efforts of the Bengaluru-based company start upThe acquisition by larger rival PhonePe failed. The deal was canceled earlier this year after the due diligence process conducted by PhonePe found that the evaluation of the potential acquisition failed to meet its standards. However, the Walmart-owned fintech major hired about 130 of Zestmoney’s employees.
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