Zestmoney acquired by DMI Finance

Post phonepe declined to acquire Zest, following ate the scenarios at Zest : 1. 33% employees laid off 2. 33% employees were hired at Phonepe 3. 33% employees have jobs at Zest but they are thinking Zest to be a sinking ship so might move away.

Anyone has any inside scoop on what’s going on at Zest Money? Why did the founders resign en-mass?

Context: https://twitter.com/chandrarsrikant/status/1641314393161109508?t=Ducvzk_DPblMmkLORjLT1A&s=19 Without runway, what happens to the current Zest employees?

Lets collate a list. I will start with a few guesses. 1. Bounce 2. Zepto 3. Sharechat 4. Dealshare please add - lets collate a list and analyse again in 18 months.

I remember one of the founders who had quit posting about OCEN and ONDC. Also, they're hiring for new venture. Any insider info?

- Tally, a nine-year-old fintech, has shut down after running out of cash, according to a LinkedIn post by founder and CEO Jason Brown. - The company, which helped consumers manage and pay off credit card debt, was unable to secure the necessary funding to continue operations. - Tally was last valued at $855 million and had 183 employees, according to PitchBook. - In April, Tally announced it would be sunsetting its consumer app and shifting to a B2B model, but never followed up with details on its launch partner. - Founded in 2015, Tally raised $172 million in funding, with notable investors including Andreessen Horowitz, Kleiner Perkins, and Sway Ventures. Source: [Techcrunch](https://techcrunch.com/2024/08/12/a16z-backed-fintech-tally-which-raised-172m-in-funding-is-shutting-down-after-running-out-of-cash/)

There’s now a list of 4-6 startups that have shut down and announced closure in December. Why is this happening

- Severe cash crunch - The remaining 50% of salary is expected to be paid on 15th July - Reliance not willing to invest more funds - Talks ongoing with PhonePe and Paytm for acquisition (Dunzo would support their ONDC backend delivery logistics)

Someone Inside, please help