BENGALURU: The DMI Group on Wednesday announced the acquisition of the ZestMoney platform.
ZestMoney has struggled to find a buyer after an acquisition deal with PhonePe fell through. The start-up last month announced thst it will be shutting down its operations, but finally the startup has been acquired by DMI.
Through this acquisition, DMI will have the exclusive right to the use of all Zest brands. This acquisition will enable DMI to widen its engagement with current and potential customers by adding the ZestMoney checkout financing platform to its product suite.
Founded in 2008, DMI is a financial services platform with core businesses in digital finance, housing finance and asset management. It has raised over$ 1.5 billion of investment capital. Founded in 2015, ZestMoney has more than 80,000 merchants across India including Amazon, Flipkart, Myntra, MakeMyTrip, Nykaa, Samsung, Apple, Vivo, Croma, and Reliance Digital. Shivashish Chatterjee, Co-founder and Joint Managing Director of DMI said: “ZestMoney has been a pioneering provider of checkout finance in India.”