Zeta secures $50m in new funding, boosts valuation to $2bn
Zeta, a US-based banking tech company and credit card processor, has secured $50 million from an undisclosed investor, increasing its value to $2 billion.
Zeta valued at $2 billion following a $50 million investment
The raise marks a notable leap from Zeta’s previous $1.15 billion pre-money valuation, which came following a $250 million investment from SoftBank Vision Fund 2 and other marquee investors in 2021.
The fintech later went on to raise an additional $30 million from Mastercard the following year, when it entered into a five-year credit card partnership with the payments giant.
Founded in 2015, Zeta operates a microservices-based platform that enables banks and fintechs to develop and manage a wide variety of financial products, including asset and liability products, for consumers.
Zeta’s platform, powered by an API-enabled tech stack, covers key functionalities, such as payment processing, issuing, lending, core banking, fraud, loyalty programmes and digital banking apps.
In a statement, Bhavin Turakhia, global CEO and co-founder of Zeta, indicates that the funding will be used to support the company’s growth trajectory.
“Over the past few years, we have supported over 25 million accounts on our cloud-native processing platform Tachyon and are on track to add 25 million more with contracts already in flight,” he said.
