Indian buy now, pay later firm ZestMoney is shutting down after failing to find a buyer, according to TechCrunch.
The company - which had a $450 million valuation at its last funding round - has been scrambling for backers since a planned acquisition by Walmart-backed mobile payments giant PhonePe fell through earlier this year.
PhonePe ditched the deal over due diligence concerns, walking away from a deal pegged at between $200 million and $300 million despite the fact it would have secured the company a long-coveted non-banking finance company licence.
Weeks after the deal collapsed, ZestMoney CEO Lizzie Chapman, CFO and COO Priya Sharma and CTO Ashish Anantharaman all resigned.
Having failed to find a buyer, the new leadership told ZestMoney's 150 employees about the decision to shut up shop this week, according to TechCrunch.