Aussie paytech Zepto secures $19m Series A raise
Australian account-to-account merchant payments fintech Zepto has raised $19 million (AUD 25 million) in a Series A round led by Airtree Ventures and Decade Partners.
Initially founded in 2015, it marks the bootstrapped start-up’s first external funding round.
The investment comes after 10x year-on-year revenue growth for the company over four financial years since 2018.
Zepto claims it now facilitates more than $4 billion in payment volume each month. It currently serves hundreds of Australian businesses including Binance Australia, Superhero, Novatti Group, Nimble, Powerpay, Till Payments, Bluestone, Rentbetter, Biz Pay and Get Blys.
CEO Chris Jewell says the firm intends to use the new capital to grow its team and develop its technology to “meet the demands of an ever-evolving domestic market”. Funds will also be used to accelerate Zepto’s expansion into international markets.
Decade Partners co-founder Tom Hordern says merchants are choosing Zepto “because it’s fast, secure and most importantly developer first and led”.