Zilingo co-founder Dhruv Kapoor wrote to board that he had ‘firm investor commitments’ and was making a ‘preliminary, non-binding offer’ to pay off the $48 mn outstanding debt owed to Varde Partners and Indies Capital, and infuse $8 mn in fresh equity into the company
The advisory board is made up of "individuals of various specializations, dynamic perspectives and deep expertise who will provide insights, connect networks and share experiences in building and scaling technology companies in the region", Carsome said.
Since firing its CEO Ankiti Bose, Zilingo's investors and top management have debated whether the Singapore-based start-up can keep operating. Read more at straitstimes.com.