Digital payments firm PhonePe acquires GigIndia to strengthen enterprise offerings : Rashtra News #Digital #payments #firm #PhonePe #acquires #GigIndia #strengthen #enterprise #offerings Bengaluru: Digital payments major PhonePe has acquired GigIndia, a marketplace for gig workers, to strengthen its offerings for corporate and enterprise partners, the company said on Monday. GigIndia will integrate with PhonePe as
Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform.
The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter.
The collapse of the deal is also being attributed to a slowdown in the financial technology (fintech) sector in the midst of a funding winter, difficult regulatory environment, and macroeconomic uncertainty, informed other sources.
ZestMoney By Peerzada Abrar Lapses in due diligence, valuation disagreements, funding winter, tough regulatory environment, fintech slowdown being cited as reasons. Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch
PhonePe to acquire Indus OS in all-cash deal worth $60 m
May 19, 2021
The digital payment service PhonePe - Bloomberg×
This is the digital payment platform’s second acquisition after Zopper Retail
Walmart-owned digital payments platform Phone Pe is in the final stages of talks to acquire Indus OS, a made-in-India content and app discovery platform, in an all-cash deal worth $60 million. The acquisition is scheduled to be completed in the next few weeks and is PhonePe’s second acquisition after Zopper Retail which it acqui-hired in 2018.
The acquisition is expected to fuel PhonePe’s super app ambitions. Currently, PhonePe ‘Switch’ that aggregates over 400 apps across verticals including food, grocery, shopping, travel apps within its own app, does away with the need to download apps individually. Users can log into these apps without downloading them with a single tap.