Dunzo Co-Founder Dalvir Suri’s Exit: A Turning Point for the Startup
Dalvir Suri, one of the co-founders of Dunzo, has decided to leave the struggling startup amidst its ongoing financial difficulties. Suri had been an integral part of the company for more than six years and played a significant role in diversifying its business, including the introduction of Dunzo Merchant Services (DMS). CEO Kabeer Biswas shared this news with the company’s employees via email, explaining that Suri had been contemplating taking a break for some time and was now looking to explore new opportunities.
Biswas acknowledged Suri’s pivotal role in developing various business initiatives at Dunzo, describing him as the driving force behind many of the company’s accomplishments. He also expressed his gratitude for Suri’s can-do attitude, which had a positive impact on everyone at Dunzo.
Suri, along with co-founders Mukund Jha and Ankur Aggarwal, no longer holds any equity in the company, which is backed by Reliance Retail. According to data from Tracxn, Kabeer Biswas is the largest individual shareholder, owning 3.57% of the company. In a recent development, Dunzo informed its employees that it had partnered with OneTap, a payroll financing company registered with the RBI and operated by Capital Trade Links Limited, listed on the Bombay Stock Exchange (BSE). This partnership was established to facilitate the disbursement of salaries for August while Dunzo awaits additional funding.
Dunzo reassured its team members that the responsibility for repayment in this partnership lies solely with the company, and there will be no interest or repayment obligations for employees.