The rate of default was sky high at the company at 13%. Typically BNPL companies need to keep it below 2.5%. So you can imagine that this wasn't a good thing. Zest money spent around 1000 rupees to acquire a single customer. It still licensed some of their proprietary technology. Rumors say for $8 million.
In today’s episode for 17th May 2023, we explain why a fintech startup that was once the poster child of the Buy Now Pay Later movement is in all sorts of trouble.
Before we get to today's story. here's a quick sidenote from Team Ditto. If you're someone who has experience in recruitment especially from Colleges, Ditto is looking to hire a Campus Recruiter. So if you're interested or know someone who is, please click this link - https://bit.ly/42NhvYz