PhonePe looks to acquire BNPL startup ZestMoney

It would probably be a “distress sale,” and ZestMoney’s valuation might be considerably lower than it was in its previous fundraising round last year, when it was estimated to be worth about $400 million.

Over the past two months, the BNPL startup has held discussions with more prospective purchasers as its liquidity runway has shrunk and it has been unable to get funding.