BNPL startup ZestMoney to shut down, to let go of remaining 150 employees
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https://www.desidime.com/discussions/bnpl-startup-zestmoney-to-shut-down-to-let-go-of-remaining-150-employees?page=1#post_9743028
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https://www.desidime.com/discussions/bnpl-startup-zestmoney-to-shut-down-to-let-go-of-remaining-150-employees?page=1#post_9744568
BNPL should die, too much shady stuff...
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This was inevitable. With Indian govt. tightening the rules and regulations on credit and credit instruments, ZestMoney couldn't change and adapt to fast changing credit landscape in India.
I think other BNPL & loan companies may follow the suit too, because to me it seems govt. is not fond of people availing easy credit (without due diligence) from non traditional financial services companies / NBFCs .