Dunzo co-founder and chief executive Kabeer Biswas's recent departure has left the cash-strapped startup's investors looking for ways to settle its dues and find a way forward.
Biswas recently resigned from the company he co-founded 10 years ago and made a household name. He is now set to join Flipkart by the end of the month to lead the Walmart-owned company's newly launched quick-delivery business, Minutes, a person familiar with his plans said, declining to be identified.
Dunzo, meanwhile, is swamped with liabilities of as much as $70 million and still has 30-40 full-time employees, as per media reports. Biswas left Dunzo after trying for about a year to find a resolution for the company through a sale or by raising fresh funds.
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