DMI Group acquires BNPL startup ZestMoney

Editorial Desk · 2024-01-18T11:41:01+05:30

DMI Group has completed the acquisition of ZestMoney, a startup in the buy now, pay later (BNPL) sector. The financial specifics of this deal, marked as a distress sale, were not revealed. This acquisition is significant as it comes after ZestMoney's recent closure and the layoff of its entire staff in December. This strategic move allows DMI Group to integrate ZestMoney's assets and expand its consumer reach.Founded in 2008, DMI is a diversified financial services conglomerate. Its digital lending arm, DMI Finance, offers a variety of loan products. The acquisition of ZestMoney, which had raised around $125 million, is set against the backdrop of stringent regulations on BNPL startups and challenging funding conditions in the sector. This move by DMI Group is expected to bolster its position in the digital lending space by leveraging ZestMoney's brand and offerings.

Tagged: #acquisition, #finance, #startup

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DMI Group acquires BNPL startup ZestMoney
Posted by Editorial Desk on January 18, 2024 at 11:41 am
DMI Group has completed the acquisition of ZestMoney, a startup in the buy now, pay later (BNPL) sector. The financial specifics of this deal, marked as a distress sale, were not revealed. This acquisition is significant as it comes after ZestMoney’s recent closure and the layoff of its entire staff in December. This strategic move allows DMI Group to integrate ZestMoney’s assets and expand its consumer reach.
Founded in 2008, DMI is a diversified financial services conglomerate. Its digital lending arm, DMI Finance, offers a variety of loan products. The acquisition of ZestMoney, which had raised around $125 million, is set against the backdrop of stringent regulations on BNPL startups and challenging funding conditions in the sector. This move by DMI Group is expected to bolster its position in the digital lending space by leveraging ZestMoney’s brand and offerings.
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