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]
Sydenham College of Economics is a college located in Mumbai, Maharashtra, India. It is affiliated to the Dr. Homi Bhabha State University. The college offers undergraduate and postgraduate degrees in management. It was awarded a re-accreditation 'A' grade and 3.42 GPA in the second cycle assessment conducted by the National Assessment and Accreditation Council.
Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. As of December 2023, the bank has 1,869 branches and 3,239 ATMs, including branches in GIFT City and DIFC (Dubai).
Spice Money (SML) is an Indian Rural financial services company headquartered in Noida. It was founded in 2000 by Dilip Modi, who serves as the chairman and group CEO of DiGiSPICE Technologies. SML is a subsidiary of DiGiSPICE Technologies. It provides financial services, such as money transfer, cash deposit, account opening, bill payments, mini ATMs and more services. It engages with local individuals (Adhikaris) to assist its customers with banking requirements. In 2021, the company reported having more than a million Adhikaris on its platform.
MobiKwik is an Indian payment service provider founded in 2009 that provides a mobile phone-based payment system and digital wallet. Customers can add money to an online wallet that can be used for payments. In 2013 the Reserve Bank of India authorized the company's use of the MobiKwik wallet, and in May 2016 the company began providing small loans to consumers as part of its service.
Paytm is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida, India. Paytm was founded in 2010 by Vijay Shekhar Sharma under One97 Communications. The company offers mobile payment services to consumers and enables merchants to receive payments through QR code payment, Payment Soundbox, Android-based-payment terminal, and online payment gateway. In partnership with financial institutions, Paytm also offers financial services such as microcredit and buy now, pay later to its consumers and merchants.
Revolut is a global neobank and financial technology company with headquarters in London, UK that offers banking services for retail customers and businesses. It was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. It offers products including banking services, currency exchange, debit and credit cards, virtual cards, Apple Pay, interest-bearing "vaults", personal loans and BNPL, stock trading, crypto, commodities, human resources and other services.
Financial technology is an industry composed of companies that use technology to offer financial services. These companies operate in insurance, asset management and payment, and numerous other industries. FinTech has emerged as a relatively new industry in India in the past few years. The Indian market has witnessed massive investments in various sectors adopting FinTech, which has been driven partly by the robust and effective government reforms that are pushing the country towards a digital economy. It has also been aided by the growing internet and smartphone penetration, leading to the adoption of digital technologies and the rise of FinTech in the country
Divyank Turakhia is an Indian-born computer-programmer, businessman, billionaire, and investor. His net worth is estimated at $1.76 billion. He founded Media.net, which he sold in 2016 to a Chinese consortium for $900 million, the third-largest ever ad-tech deal.
Airtel Payments Bank is an Indian payments bank with its headquarters in New Delhi. The company is a subsidiary of Bharti Airtel. On 5 January 2022, it was granted the scheduled bank status by the Reserve Bank of India under the second schedule of RBI Act, 1934.
PhonePe is an Indian digital payments and financial services company headquartered in Bengaluru, Karnataka, India. PhonePe was founded in December 2015, by Sameer Nigam, Rahul Chari and Burzin Engineer. The PhonePe app, based on the Unified Payments Interface (UPI), went live in August 2016.
Bhavin Turakhia is an entrepreneur, and the founder of Titan, Flock, Radix, CodeChef, and Zeta. In 2016, Bhavin, a billionaire, was ranked as the 95th richest person in India, along with his brother Divyank Turakhia, according to Forbes. He was a 2011 Young Global Leader by the World Economic Forum.
Plaid is a financial services company based in San Francisco, California. The company builds a data transfer network that powers fintech and digital finance products.
Nium is a Singapore-headquartered cross-border payments company. Initially founded by Prajit Nanu and Michael Bermingham, and launched as a consumer-remittance platform Instarem in 2014. In 2016, the company introduced its B2B payments platform and rebranded as Nium in 2019, subsequently elevating Pratik Gandhi to co-founder in 2021.
IDFC FIRST Bank is an Indian private sector bank formed by the merger of the banking arm of Infrastructure Development Finance Company and Capital First, an Indian non-bank financial institution.
Titan is a business email service founded by Bhavin Turakhia in 2018. The service may be accessed through the Titan website and through the web, Android, and iOS.
Airwallex is a multinational financial technology company offering financial services and software as a service (SaaS). Founded in 2015 in Melbourne, Australia and currently based in Singapore, the company is a financial technology platform providing cross-border payments and financial services to businesses through a proprietary banking network and its API. It also provides services and products such as business accounts, expense cards, and payroll, among others. It was Australia's third technology unicorn company overall. With a valuation of US$5.5 billion, as of 2022, the company processed $50 billion in annualized transactions.
The Digital Rupee (e₹) or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. Digital Rupee is using blockchain distributed-ledger technology.
GoCardless is a fintech company that specialises in bank payments including recurring payments, Direct Debit processing and Open Banking. GoCardless is headquartered in London.
LenDenClub is an Indian P2P lending platform owned and operated by Innofin Solutions. Founded in 2015, the company's headquarters are situated in Mumbai, India.
Moneyview is an Indian fintech company, based in Bangalore. Its parent company is Whizdm Finance Private Limited, an Indian non-deposit non-banking financial company(NBFC-ND) registered with Reserve Bank of India. Moneyview operates in the space of digital lending and money management. Moneyview provides products like personal loans, personal finance manager, EMI calculators, and credit score tracking.