Zip Co Limited’s $50 Million Investment in ZestMoney

Arnold Bloch Leibler acted for Zip Co Limited.

ZestMoney, an Indian ‘buy now, pay later’ platform, has raised $50 million from Australian peer Zip Co Ltd. as part of its Series C funding round, at a time when BNPL solutions are gaining traction among consumers at home and abroad.

Zip will acquire a minority shareholding in the fintech startup and a board seat as part of the investment, according to a statement released on Wednesday. The BNPL company operates in 12 countries, serving more than 7.3 million customers and over 51,000 merchants.

ZestMoney will use the capital to expand its product suite, deepen the merchant network, strengthen its balance sheet and launch new business lines in insurance and savings. 

Zip Co (ASX:Z1P) previously known as ZipMoney Limited (ASX:ZML) is an Australian public limited financial technology company.

ABL Corporate and M&A partner Gavin Hammerschlag (Picture) led the deal for Zip.

Involved fees earner: Gavin Hammerschlag – Arnold Bloch Leibler;

Law Firms: Arnold Bloch Leibler;

Clients: Zip Co Ltd;

Author: Sonia Carcano