Fast commerce main Zepto will quickly launch Zepto Postpaid, which might be an initiative that falls beneath the purchase now, pay later (BNPL) class. The launch is being proven on Zepto app and is within the early levels. With Zepto Postpaid, customers may have the chance to profit from interest-free repayments of as much as Rs 5,000 courtesy of the corporate.
This growth follows intently on the heels of Zepto securing a big sum of $340 million in a current funding spherical spearheaded by Basic Catalyst, subsequently elevating its total valuation to a considerable $5 billion. Earlier than this, it had raised $665 million in a funding spherical co-led by Glade Brook, Nexus and StepStone at a valuation of $3.6 billion.
Rival Blinkit has launched related BNPL initiative by tying with gamers like LazyPay and Simpl.
Zepto has strategically partnered with BNPL agency Simpl since January 2022. By means of this collaboration, Zepto leverages Simpl’s one-tap checkout function, particularly designed for customers enrolled in Zepto’s membership program, Cross. This transfer has considerably enhanced the seamless cost expertise for Zepto’s clients.
Moreover, Simpl witnessed a staggering over 13 million checkouts through Zepto as of April. With formidable objectives in thoughts, Simpl goals to raise this quantity to a formidable 100 million by the 12 months 2026, indicating a robust trajectory when it comes to client adoption and market penetration.
Zepto achieved an working income of Rs 2,024.3 crore within the monetary 12 months 2022-23, exhibiting a exceptional progress of 14.3 instances in comparison with Rs 140.7 crore within the earlier fiscal interval.
With important capital infusion out there, Zepto intends to broaden its darkish retailer community by doubling the depend to 700 by March 2025, up from the present 350 shops as of June.