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The move will impact some 150 employees of the firm, the company's management told employees in a town hall on Tuesday.

ZestMoney did not comment.

It is learnt that the firm will shut down by the end of this month.The move comes after attempts by the Bengaluru-based startup to get acquired by larger peer PhonePe failed.

The deal was called off earlier this year after a due diligence process undertaken by PhonePe.Best ways to use crypto assets for investment diversification ✌️【Short-Term Contract】✌️Start investing with ₹500 and make your money work for you with high returns.