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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Left to fend for itself after the failed deal with PhonePe, the fintech startup is looking to find refuge in a loan waiver, a hefty licensing fee and an internal funding round.
It has been a tough few weeks for ZestMoney. The cash-strapped fintech startup had signed a term sheet with Walmart-backed PhonePe last year to be acquired in a deal reportedly worth $90 million, but the talks collapsed last month because of issues flagged by Walmart in its due diligence process. ZestMoney, led by founders Lizzie Chapman, Priya Sharma and Ashish Anantharaman, is now preparing an ambitious rescue plan, one that is unheard of in India’s burgeoning fintech industry.
According to three executives aware of the matter, who asked not to be named, the plan to revive the eight-year-old company involves …
The UAE is looking at its first public listing of the year while Egypt just delivered a big one; OpenAI’s bugging accused has ties to Saudi Arabia; and other updates from the week.
The instant house help business has become the centre of focus and investment at the home services company. But another fight may be brewing in its core business.
The loan aggregator keeps sending updates on WhatsApp even to users who haven’t applied for a loan. The company is exploiting a grey area in India’s telecom regulatory framework and WhatsApp’s policies.
