PhonePe-ZestMoney deal pegged at $200mn-$300mn called off due to diligence concerns
The deal between Walmart-backed PhonePe and Zest Money is off. The company's board and investors were made privy to the development over the last few days
PhonePe, one of India's largest fintech platforms, has put on hold its plans to acquire Bengaluru-based BNPL (buy now pay later) platform ZestMoney. The deal amount was pegged at $200 million-$300 million.