Zeta eyes global expansion with Series C investment
India-based fintech, Zeta, is looking to expand worldwide after securing a Series C investment from Sodexo Pass International, at a valuation of $300 million, Jane Connolly reports.
The cloud-based banking platform and enterprise payments solution is already serving companies and banks in Latin America and Asia. Zeta now plans to expand into the US, Europe, South East Asia and the UK, where it has already begun hiring senior leadership staff.
Zeta’s products includes a cloud-native neo-banking platform for the issuance of credit, debit and prepaid products, to enable legacy banks and new age fintech institutions to launch retail and corporate fintech products.
The fintech also provides an enterprise payment solutions stack comprising features such as TnE cards, P-cards, expense management and salary disbursement.
Bhavin Turakhia, Zeta co-founder and CEO, says the company plans to expand into more than 15 countries over the next two years.
He adds: “Fintech has gone through a significant transformation in the past couple of years, as consumers demand more control and a decentralised banking experience. The United Kingdom has seen significant innovation in the fintech space with more challenger banks operating here than any other country worldwide. Today’s banking and fintech ecosystem requires cloud-native, privacy-aware, inherently secure, API first banking and payment solutions.”
Zeta has previously been funded by co-founders Bhavin Turakhia and Ramki Gaddipati, but Sodexo has been a strategic partner since 2017.