Friday, September 29, 2023
Outlook India
Outlook Business


A recent report from the US Consumer Financial Protection Bureau (CFPB) stated that users of BNPL products typically had lower credit scores and limited savings

Suffering from high losses, a growing mound of bad loans and failure to convince PhonePe for a merger deal, ZestMoney will have to rethink its growth strategies if it is to make a turnaround

The development came months after the BNPL start-up's acquisition talks with fintech decacorn PhonePe fell through

Currently, the company is going through a rough patch as it is facing a severe fund crunch

The development comes as a blow to ZestMoney, a buy-now-pay-later platform, which has been trying to raise funds for a while

The fintech's net expenses grew to Rs 543.8 crore in FY22, compared to 89.3 crore in FY21