Quick commerce leader Zepto is set to debut its own buy now, pay later (BNPL) service, Zepto Postpaid, promising users “up to Rs 5,000 in interest-free repayments.” The service is currently in early stages, with users encouraged to join a waitlist for exclusive access through the Zepto app.
Zepto’s move into BNPL comes as competitors like Zomato-owned Blinkit already offer similar services via partnerships with LazyPay and Simpl. Zepto has collaborated with Simpl since January 2022, leveraging its one-tap checkout feature for Zepto Pass members.
Recently, Zepto raised $340 million in a follow-on financing round, valuing the company at $5 billion, just two months after securing $665 million in a Series F round at $3.6 billion. This funding boost will support its upcoming initial public offering (IPO).
Zepto, focusing solely on quick commerce, has increased its market share from 15% in March 2022 to 22% in January 2024, according to HSBC Global. Despite Blinkit’s 40% market share lead, Zepto is gaining ground, while Instamart’s share has decreased from 52% to 32% over the same period.
Financially, Zepto’s revenue surged 14-fold to Rs 2,024 crore in FY23 from Rs 140.7 crore the previous year. However, losses also widened to Rs 1,272 crore from Rs 390.3 crore.
