As reported in the AFR, Zip will invest US$50 million and acquire a minority interest in ZestMoney. This move will see Zip deepen its move into emerging markets and double down on its global expansion plans.
ABL Corporate and M&A partner Gavin Hammerschlag led the deal for Zip.
Zip’s co-founder and CEO Larry Diamond said: “We are excited to partner with ZestMoney to drive fair and responsible payment solutions in India. With deep partnerships with online and offline merchants and lending partners, Zest Money is poised to accelerate growth as the market develops.”
Gavin Hammerschlag further commented: “Having advised Zip on its numerous local and foreign acquisitions and strategic investments, it is exciting to see Zip’s bold global expansion plans continue as a leader in the BNPL sector.”
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