Zepto Ready to Launch ‘Zepto Postpaid’ BNPL Service Following Funding Boost

By
Anirban Chakraborty
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SUMMARY

  • Zepto is launching “Zepto Postpaid” with interest-free BNPL options, allowing repayments up to INR 5,000.
  • The firm’s valuation surged to $5 billion following a $340 million funding round, while it plans to triple its dark stores by 2025.
  • Despite a 14.3X revenue increase, its net loss has also grown, highlighting the startup’s aggressive expansion and investment strategy.

Zepto, a quick commerce major is all set for their upcoming release of “Zepto Postpaid” which is poised to make its debut in the buy now, pay later (BNPL) market.

The firm asked users to join the waitlist to have “exclusive early access” to the new function, teasing the feature on its app. ‘Zepto Postpaid’ is likely going to allow users to make “interest-free repayments” of up to INR 5,000. “It’s still a bit early for us to provide specific details on Zepto Postpaid, but rest assured, we’ll share all the relevant info as soon as it’s concrete,” a business spokeswoman stated as reported by Inc42. This occurred several months after Zepto and BNPL startup Simpl teamed up in April of this year. As a result of the relationship, the firm was able to use Simpl’s one-tap checkout feature for its membership program Zepto Pass, according to a Financial Express report.

To maintain its leadership in the competitive fast commerce market, Zepto has been investing heavily this year. The startup’s worth shot up to $5 billion a few days ago after it raised $340 million in a financing round headed by General Catalyst.

Previously, the company raised $665 million at a valuation of $3.6 billion in a capital round headed by Glade Brook, Nexus, and StepStone. The business, which has received over $1 billion in VC so far this year, plans to treble the number of dark stores it operates—from 350 in June to 700 by March 2025.

It had a 14.3X increase in operating revenue, from INR 140.7 Cr in the previous fiscal year to INR 2,024.3 Cr in the fiscal year 2022–2023 (FY23). In the meantime, net loss for the year under review increased 3.4X year over year to INR 1,272.4 Cr.