PhonePe scraps ZestMoney deal over due diligence issues: Report

PhonePe has called off its deal to acquire ZestMoney due to concerns over due diligence, Moneycontrol reported. Disagreements over valuation and shareholding structure were also among reasons behind the failure of the deal, The Economic Times reported separately. The deal would have reportedly valued ZestMoney at around $200-$300 million, much less than the firm's last valuation of $470 million.