Australian fintech Zeller introduces “all-in-one” business banking solution tailored for start-ups
Australian fintech Zeller has unveiled what it calls the country’s first “all-in-one financial solution for tech founders”, aiming to take on “outdated banking designed exclusively for traditional businesses”.
Zeller’s CEO says banks have become a “roadblock for founders”
Zeller for Start-ups, which the fintech says will be available “in the coming weeks”, will feature a suite of financial tools to help founders start and scale their businesses, including real-time expense tracking, unlimited virtual and physical Mastercard-powered debit cards, fee-free transaction accounts, high-interest savings accounts, and expedited digital onboarding processes, with the company claiming founders can open business accounts with “60% fewer clicks” compared to traditional banks.
This new launch expands Zeller’s existing product suite, which includes EFTPOS terminals, Tap to Pay services, invoicing options, and a variety of corporate card and business account products.
Speaking on the motivation behind the new service, Ben Pfisterer, Zeller CEO and co-founder, says: “Everything about how companies operate has changed, but the banks have not. For decades Aussie founders have been forced into a banking system that simply wasn’t built for them; slow account onboarding, outdated risk assessments, and financial products that deliver limited oversight.
“The reality is, banks have become a roadblock for founders because they can’t deliver what start-ups need to manage the finances, spending and expenses in one place”, adds Pfisterer.
In 2022, Zeller raised $73 million (AUD 100 million) in a Series B funding round led by US venture capital firm Headline, valuing the company at over $730 million (AUD 1 billion).
