 | |
| Type of business | Privately held company |
|---|---|
| Founded | 2015 |
| Headquarters | Mumbai, Maharashtra |
| Founder(s) | Bhavin Turakhia Ramki Gaddipati |
| Key people | Bhavin Turakhia (CEO) Ramki Gaddipati (CTO) |
| Employees | 1000-5000 |
| Parent | Zeta Services Inc. |
| URL | www |
| Commercial | Yes |
| Registration | Required |
| Current status | Online |
Zeta is a next-gen banking tech company by founders Bhavin Turakhia and Ramki Gaddipati in 2015. The company provides credit and debit card issuer processing, BNPL, core banking and "mobile experiences".[1] Zeta provides its products to banks and fintechs.[2][3][4]
The company was founded in April 2015 by Bhavin Turakhia[5] and Ramki Gaddipati.[6] Its initial offerings were for employee tax benefits, automated cafeterias, employee gifting and digital payments.[7] In 2016, Bhavin Turakhia invested around $19 million into Zeta.[8] 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.[9] In June 2017, the company invested 5-10 crore to buy a minority stake in an HR company called ZingHR.[10][11] Zeta has partnerships with IDFC Bank,[12] Sodexo,[13] Excelity Global,[14] Kotak Mahindra Bank[15][16] and RBL Bank.[9] Zeta launched the first employee benefits survey in India along with Nielsen Holdings in April 2018.[17] It also bought a minority stake in PeopleStrong in January 2018.[18] In 2019, Zeta received an investment from Sodexo BRS at a valuation of $300 million.[19] In 2020, Zeta launched its technology platform-as-a-service in the Philippines and Vietnam with Sodexo being its first client in these countries.[20] In 2021, Zeta secured Series C investment of $250 million from SoftBank Vision Fund 2 valuing Zeta at $1.45 billion.[21] This is one of the largest single investments] in a banking tech startup globally.[22]
Zeta's employee benefits business merged with Sodexo BRS India in 2019.[23]
