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

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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.

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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.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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

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.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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