Zeta is a banking software company that was founded by Bhavin Turakhia and Ramki Gaddipati in 2015. The company provides credit and debit card issuer processing, BNPL, core banking and "mobile experiences".[3] Zeta provides its products to banks and fintechs.[4][5][6]
History
The company was founded in April 2015 by Bhavin Turakhia[7] and Ramki Gaddipati.[8] Its initial offerings were for employee tax benefits, automated cafeterias, employee gifting and digital payments.[9] In 2016, Bhavin Turakhia invested around $19 million into Zeta.[10] Initially, Zeta payments was only supported by the MasterCard network but later the company also tied-up with the National Payments Corporation of India's RuPay.[11]
In June 2017, the company invested 5-10 crore to buy a minority stake in an HR company called ZingHR.[12][13]
Zeta has partnerships with IDFC Bank,[14]Sodexo,[15] Excelity Global,[16]Kotak Mahindra Bank[17][18] and RBL Bank.[11] Zeta launched the first employee benefits survey in India along with Nielsen Holdings in April 2018.[19] It also bought a minority stake in PeopleStrong in January 2018.[20] In 2019, Zeta received an investment from Sodexo BRS at a valuation of $300 million.[21] In 2020, Zeta launched its technology platform-as-a-service in the Philippines and Vietnam with Sodexo being its first client in these countries.[22] In 2021, Zeta secured Series C investment of $250 million from SoftBank Vision Fund 2 valuing Zeta at $1.45 billion.[23] This is one of the largest single investments] in a banking tech startup globally.[24]
