The offer sounded like a quintessential Diwali Dhamaka. Well, Harshil Mathur and Shashank Kumar can’t be blamed for thinking so. After all, who doesn’t want skyrocketing valuations and explosive growth? The logic apparently was simple. “Why don’t you guys enter BNPL [buy now pay later],” asked a curious investor last year. “Your valuation will immediately shoot up by at least 3x to 4x,” the funder underlined the new fad that had caught the fancy of venture capitalists (VCs) worldwide.