Banking Tech Innovator Zeta Hits USD 2 Bn Valuation with USD 50 Mn Fund Raise The Mumbai-based brand, which became a unicorn in 2021, was previously valued at USD 1.15 billion during its USD 250 million Series C funding round led by SoftBank Vision Fund 2.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Zeta, a next-generation banking technology provider for financial institutions worldwide, announced a USD 50 million investment from a strategic investor, bringing its valuation to USD 2 billion.
The Mumbai-based company, which became a unicorn in 2021, was previously valued at USD 1.15 billion during its USD 250 million Series C funding round led by SoftBank Vision Fund 2.
Founded by Bhavin Turakhia and Ramki Gaddipati, Zeta provides a cutting-edge cloud-native platform, enabling financial institutions to swiftly launch asset and liability products, including credit cards, loans, and savings accounts. Its API-driven and microservices-based solutions help banks transition from legacy systems to modern, seamless digital experiences.
Zeta's CEO, Bhavin Turakhia, expressed enthusiasm over the company's rapid growth and adoption. "We are incredibly excited at the pace at which clients are embracing our modern stack. Over the past few years, we have supported over 25 million accounts on our cloud-native platform, Tachyon, and are on track to add 25 million more with contracts already in flight. Our clients are breaking away from decades-old systems, enhancing customer satisfaction, and accelerating user acquisition."
Zeta's comprehensive Software-as-a-Service (SaaS) offerings include six core platforms:
- Tachyon: Core Banking & Issuer Payments Suite
- Photon: Merchant Acquiring & Payments Service Provider Suite
- Neutrino: Digital Banking & AI Applications Suite
- Saturn: Issuer Operations & Servicing Suite
- Luminos: Customer Engagement & Rewards Suite
- Electron: Commercial Cards & Benefits Suite
With a global team of 1,700 employees, 70% of whom are in tech roles, Zeta claims to serve some of the world's largest financial institutions. Its clients include HDFC Bank, India's largest private lender, with whom Zeta launched Pixel, an innovative digital-native credit card program. Other key clients include Pluxee, a global corporate benefits provider, and Sparrow Financial, a US-based issuer for non-prime cardholders.
Zeta's Co-founder, Ramki Gaddipati, noted, "Zeta's mission to be a trusted partner to financial institutions is powered by the tireless efforts of the best team in banking tech. We've delivered multiple winning programs for clients in record time, solidifying our position as a leader in the industry."
With this latest investment, Zeta is poised to further expand its presence and strengthen its position as a disruptor in the global banking tech landscape.
