Zeta enters Unicorn territory on $250 million SoftBank investment

Zeta enters Unicorn territory on $250 million SoftBank investment

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May 24, 2021 by J.D. Smith
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Banking tech startup Zeta has achieved unicorn status after scooping a $250 million investment from SoftBank. The Series C investment values Zeta – which offers a modern mult-stack platform to replace legacy software at banks – at $1.45 billion. Founded by London based serial entrepreneur, Bhavin Turakhia along with Ramki Gaddipati, Zeta employs 700 staff
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Banking tech startup Zeta has achieved unicorn status after scooping a $250 million investment from SoftBank.

The Series C investment values Zeta – which offers a modern mult-stack platform to replace legacy software at banks – at $1.45 billion.

Founded by London based serial entrepreneur, Bhavin Turakhia along with Ramki Gaddipati, Zeta employs 700 staff globally at offices in the UK, North America, LATAM, Europe and Asia.

The company’s tech platform offers a host of plug-and-play modules covering the full gamut of modern financial services, such as debit and prepaid card processing, loans and deposits, alongside a ready-made white-labelled mobile app offering support for credit cards, checking accounts, prepaid, loans, buy now, pay later, and personal finance management.

Says CEO Turakhia: “Most banks are using decades old software built at a time when Mainframes and Cobol were in vogue. They have been slow to innovate and provide poor user experiences. With Zeta, banks can leverage a modern, cloud native platform and improve speed to market, agility, cost to income ratio and user experience.”

Zeta counts amongst its customers, over ten Banks and 25 fintechs, across eight countries, including Sodexo – who participated in this latest financing round.