Zepto's Postpaid Initiative and Growth Trajectory
Quick commerce giant Zepto is gearing up to launch Zepto Postpaid, a buy now, pay later (BNPL) initiative. This feature, currently in its early stages, will allow users to enjoy interest-free repayments of up to Rs 5,000. This move comes shortly after Zepto secured a substantial $340 million in funding, boosting its valuation to a staggering $5 billion.
This development follows Zepto's previous funding round, where it raised $665 million, reaching a valuation of $3.6 billion. The company's rival, Blinkit, has also launched a similar BNPL initiative in collaboration with players like LazyPay and Simpl.
Zepto has partnered with BNPL firm Simpl since January 2022. This collaboration allows Zepto's Pass members to enjoy a seamless one-tap checkout experience. Simpl has witnessed over 13 million checkouts via Zepto as of April and aims to reach an impressive 100 million by 2026, indicating strong consumer adoption and market penetration.
Zepto's operating revenue for the financial year 2022-23 reached Rs 2,024.3 crore, demonstrating a remarkable 14.3 times growth compared to the previous year. With significant capital available, Zepto plans to double its dark store network to 700 by March 2025, up from the current 350 stores.
These developments highlight Zepto's commitment to innovation and expansion, positioning the company for continued growth in the competitive quick commerce landscape.