Defaulting investors have had an impact on companies such as BillDesk, Byju’s, Zetwerk, and Swiggy

October 8, 2022

Share via:

According to executives familiar with the potential offers who spoke on the condition of anonymity, BillDesk, Byju’s, Zetwerk, Goqii, and Swiggy are among the startups that have experienced investor default in the last six to eight months.

Prosus NV, the investment arm of South Africa’s Naspers, announced on Monday that it was abandoning its $4.7 billion all-cash purchase of payments service provider BillDesk after the lengthy deadline to close the deal expired. Similarly, Zetwerk announced on December 29 that it had raised $250 million from a variety of investors, including Iconiq Capital, in a deal valued at $2.7 billion, but two people familiar with the situation claim that Iconiq Capital did not follow through on the capital commitment. Zetwerk and Iconiq did not respond to requests for comment.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Previous News

Tracxn Technologies raised $16.8 million in an anchor round from India Acorn and others

Next News

Facebook to fire 15 percent of workforce in ‘quiet layoffs’

Editorial Team

StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.