Sudden decision taken by PhonePe..!?

PhonePe, which is controlled by Walmart, America's largest retail company, has taken an important decision to take its business to the next level and expand in India. As the retail trade has grown tremendously in india for the last 3 years, the Buy Now Pay Later service has become important for e-commerce shopping. With this Buy Now Pay Later service, not only attracts new customers but also retains existing customers and earns more revenue. In this situation, PhonePe has planned to buy ZestMoney company in this segment.
PhonePe is set to acquire buy now pay later service provider ZestMoney in a bid to boost its financial services in a big way. ZestMoney has recently sold off its business and embarked on plans to raise new funding. Not only has ZestMoney continued to fail in these efforts, but it has also struggled to raise new investments from tech investors. With the US Federal Reserve raising its benchmark interest rates, indian startups are struggling to secure fresh investments.At this point, PhonePe has reached a critical stage in its takeover talks, which is seen as a jackpot for ZestMoney. This is expected to seal the deal between ZestMoney and PhonePe. If this is confirmed, it will be the largest M&A project in the new-age lending segment. Meanwhile, the business of this segment has been affected more due to the strict monitoring of the Buy Now Pay Later service by the Reserve bank of India. However, PhonePay has decided to acquire ZestMoney.ZestMoney - Even though the company's valuation cannot be predicted, many people are calling it a distress sale. Thus ZestMoney was valued at $400 million when it last raised investment. Currently, it is expected that PhonePe will buy at a lower price than this.ZestMoney - PhonePe Deal Code ZestMoney spokesperson said this is based on guesswork. But people familiar with the talks say price and valuation are being negotiated and an official announcement is expected in the next few weeks.

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