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Zestmoney cofounder Lizzie Chapman quits Reliance-backed Swiffy Labs

Economic Times

Economic Times · 5m ago

Zestmoney cofounder Lizzie Chapman quits Reliance-backed Swiffy Labs

Swiffy Labs cofounder Lizzie Chapman has stepped down from her role but will continue as an advisor. Swiffy Labs, launched in August 2023 in financial services infrastructure, was backed by Reliance Jio following the closure of ZestMoney, Chapman's previous venture. She is also a partner at Berkeley Square Finance Group, aiding lending firms in capital markets. Chapman’s journey includes leadership roles at ZestMoney and Wonga before Swiffy Labs' establishment alongside Anantharaman.

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Backed by Jio platforms, ZestMoney founders launch SwiffyLabs

OutlookIndia

OutlookIndia · 1y ago

Backed by Jio platforms, ZestMoney founders launch SwiffyLabs

Lizzie Chapman and Ashish Anantharaman, founders of Buy Now Pay Later firm ZestMoney, have launched a new B2B fintech startup called SwiffyLabs. Backed by Jio Platforms, the company aims to build infrastructure for banks and financial institutions, focusing on introducing modern products like embedded finance and invoice financing using advancements in AI and digital public infrastructure. This launch comes after ZestMoney shut down its operations amid regulatory discrepancies and failed acquisition discussions with fintech major PhonePe. Talks for DMI Finance and Aditya Birla Finance to acquire ZestMoney are currently underway.

Backed By Jio Platforms, Lizzie Chapman To Launch New B2B Fintech Venture Next Month

Inc42 · 1y ago

Backed By Jio Platforms, Lizzie Chapman To Launch New B2B Fintech Venture Next Month

Former ZestMoney CEO, Lizzie Chapman, is launching a new B2B fintech venture called SwiffyLabs. The startup, expected to be officially launched next month, is set to raise $100 million from Jio Platforms, which will hold a majority stake. Unlike ZestMoney, SwiffyLabs will focus on providing digital payment infrastructure, SaaS products, APIs, and other solutions to banks and NBFCs. The venture will be headquartered in Bengaluru and aims to tap into the growing demand for digitizing financial services infrastructure.

JioStar’s Chief Revenue Officer Ajit Varghese Quits

Inc42 · 8d ago

JioStar’s Chief Revenue Officer Ajit Varghese Quits

Ajit Varghese, chief revenue officer at Reliance-backed JioStar, has resigned. He is set to join Madison Media as group CEO, overseeing its outdoor advertising vertical, OOH. Mahesh Shetty, JioStar’s head of revenue and large customer base business, will replace Varghese as CRO. This change follows the completion of the Reliance-Disney merger and JioStar's formation in November 2024.

DMI Group acquires BNPL startup ZestMoney in a fire sale deal

Money Control

Money Control · 1y ago

DMI Group acquires BNPL startup ZestMoney in a fire sale deal

NBFC DMI Finance has acquired Buy Now Pay Later startup ZestMoney in a fire sale deal. The move strengthens DMI Group's commitment to customer-centric financial solutions and opens up new possibilities for seamless checkout finance tools. The Walmart-backed fintech decacorn PhonePe was previously in talks to acquire ZestMoney, but backed out due to issues with due diligence. ZestMoney faced difficulties without PhonePe's involvement, leading to layoffs and eventual shutdown. However, DMI Finance has assured that all existing employees will remain with the company.

Dunzo founder Kabeer Biswas may exit embattled delivery startup

Economic Times

Economic Times · 7m ago

Dunzo founder Kabeer Biswas may exit embattled delivery startup

Kabeer Biswas, cofounder and CEO of Dunzo, backed by Reliance Retail, is considering leaving the company amid challenging times and talks with investors. The quick commerce sector is attracting high investor interest. Some investors are open to Biswas's departure, considering Dunzo's situation. Discussions include his remaining stake, but Reliance hasn't approved any proposal yet. Former Dunzo executives are reportedly venturing into the thriving quick commerce industry. No response was received from Reliance or Biswas.

Zomato Cofounder, CPO Akriti Chopra Quits

Inc42 · 10m ago

Zomato Cofounder, CPO Akriti Chopra Quits

Akriti Chopra has recently resigned from her position at Zomato, according to the company. She held a senior management role and decided to leave to pursue other opportunities. Chopra was promoted to cofounder of the foodtech company earlier this year, coinciding with Zomato's preparations for its initial public offering (IPO).

Dunzo cofounder Kabeer Biswas joins Flipkart to lead quick commerce biz

Economic Times

Economic Times · 7m ago

Dunzo cofounder Kabeer Biswas joins Flipkart to lead quick commerce biz

Kabeer Biswas, cofounder of Dunzo, has joined Flipkart to lead its quick commerce business, Minutes, starting January 13. Biswas leaves Dunzo, backed by Reliance Retail, after struggling with capital-raising issues and cash burn. Flipkart had explored acquiring Dunzo and engaged in talks with Biswas through 2024. Some Dunzo investors support Biswas's departure amid the company's financial challenges, including job cuts and debt issues. Former executives from Dunzo are launching new ventures in the quick commerce space.

Adda247 Cofounder Chandan Singh Quits After 5 Years

Inc42 · 11m ago

Adda247 Cofounder Chandan Singh Quits After 5 Years

Nearly two years after his promotion to cofounder of Adda247 from his previous role as Chief Product Officer (CPO), Chandan Singh has decided to leave the edtech startup. He announced his departure in a LinkedIn post, revealing that he officially stepped away from the company last month. Singh’s exit marks a significant transition for both him and the startup.

SucSEED Venture Partners’ cofounder quits, says to build ‘something new'

VCCircle

VCCircle · 7m ago

SucSEED Venture Partners’ cofounder quits, says to build ‘something new'

Dhiraj Kumar Sinha, cofounder of SucSEED Venture Partners, has exited the early-stage investment firm, which runs a blind pool angel fund and is establishing a venture capital fund. SucSEED has invested in companies such as SupplyNote, str8bat, We360.ai, ConsCent, and SportVot. Sinha plans to pursue a new venture following his departure.

Aviral Bhatnagar Quits VC Firm Venture Highway

Inc42 · 1y ago

Aviral Bhatnagar Quits VC Firm Venture Highway

Aviral Bhatnagar, who was leading investments in SaaS, consumer, and AI sectors at Venture Highway, has left the VC firm. Bhatnagar expressed excitement about exploring new opportunities and contributing to India's ecosystem. He thanked Venture Highway's founder Neeraj Arora for providing him with a platform and supporting young talents. Bhatnagar's departure follows the resignation of Samir Sood, cofounder of Venture Highway, a few months ago. The VC firm, which was founded in 2015, has invested in unicorns like Meesho, CRED, and Moglix. Bhatnagar's exit adds to the string of partner-level departures witnessed in the Indian startup VC ecosystem in 2023.

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