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Zeta (company)
Indian banking tech company, founded 2015 From Wikipedia, the free encyclopedia
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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".[7] Zeta provides its products to banks and fintechs.[8][9][10]
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History
The company was founded in April 2015 by Bhavin Turakhia[13] and Ramki Gaddipati.[14] Its initial offerings were for employee tax benefits, automated cafeterias, employee gifting, and digital payments.[15] In 2016, Bhavin Turakhia invested around $19 million into Zeta.[16] Initially, Zeta payments were only supported by the MasterCard network, but later the company also tied up with the National Payments Corporation of India's RuPay.[17]
In June 2017, the company invested 5–10 crore to buy a minority stake in an HR company called ZingHR.[18][19]
Zeta bought a minority stake in PeopleStrong in January 2018.[20] In 2020, Zeta launched its technology platform-as-a-service in the Philippines and Vietnam with Sodexo being its first client in these countries.[21]
Zeta launched its digital credit as a service in 2024 built on the NPCI’s Credit Line on UPI (CLOU) for Indian banks.[22]
The company operates in North America, the United Kingdom, Brazil, the Philippines, Italy, Spain, and Vietnam.[23] Its headquarters are in San Francisco, California,[24] and it has offices in India and Dubai.[25]
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Funding
In 2019, Zeta received an investment from Sodexo BRS at a valuation of $300 million[26] and this unit also merged with Zeta’s employee benefits business.[27]
In 2021, Zeta secured a Series C investment of $250 million from SoftBank Vision Fund 2 valuing Zeta at $1.45 billion.[28][29]
In March 2022, Zeta secured an additional $30 million from Mastercard at a valuation of $1.5 billion.[30]
In February 2025, Zeta received $50 million from a strategic investor at a valuation of $2 billion.[31][32]
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Products
Tachyon
Zeta Tachyon is a credit processing platform for banks that provides services related to credit card issuance, core payments, BNPL loans, fraud and risk, and rewards with managed services.[33]
Digital Credit as a Service
Digital Credit as a Service provides credit origination, issuance, and collections services to banks based on the National Payments Corporation of India’s (NPCI) Credit Line on Unified Payments Interface(UPI).[22] In 2024, Zeta claimed that it processes 2 million transactions every day.[34]
See also
References
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