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DMI, Aditya Birla Finance in race to scoop up ZestMoney in firesale

Economic Times · 1y

Non-banking finance companies DMI Finance and Aditya Birla Finance are in talks to acquire fintech lending startup ZestMoney. The startup, which offered buy-now-pay-later loans to customers, recently informed its employees about plans to shut down due to a withdrawal of debt lines from lending partners. The lenders are interested in acquiring ZestMoney's technology platform and taking over its loan book, which amounts to around Rs 400 crore. The deal is expected to be finalized soon. Both DMI Finance and Aditya Birla Finance have a strong partnership model with fintech startups and are looking to collect outstanding dues from ZestMoney customers.