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.”
ABL has a long-standing relationship with Zip and has acted on numerous landmark transactions, including its acquisitions into the US, European and UAE markets.
About Arnold Bloch Leibler
Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, private businesses, high-net-worth individuals and international corporations. The firm also has a dedicated public interest practice providing advice to charities and not-for-profit organisations relating to significant legal, social, environmental and cultural issues.
