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, cloud banking, and "mobile experiences".[ clarification needed ] Zeta provides its products to banks and fintechs globally. [1] [2] [3]
The company was founded in April 2015 by Bhavin Turakhia [4] and Ramki Gaddipati. [5] Its initial offerings were for employee tax benefits, automated cafeterias, employee gifting and digital payments. [6] In 2016, Bhavin Turakhia invested around $19 million into Zeta. [7] 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. [8] In June 2017, the company invested 5-10 crore to buy a minority stake in an HR company called ZingHR. [9] [10] Zeta has partnerships with IDFC Bank, [11] Sodexo, [12] Excelity Global, [13] Kotak Mahindra Bank [14] [15] and RBL Bank. [8] Zeta launched the first employee benefits survey in India along with Nielsen Holdings in April 2018. [16] It also bought a minority stake in PeopleStrong in January 2018. [17] In 2019, Zeta received an investment from Sodexo BRS at a valuation of $300 million. [18] In 2020, Zeta launched its technology platform-as-a-service in the Philippines and Vietnam with Sodexo being its first client in these countries. In 2021, Zeta secured a Series C investment of $250 million from SoftBank Vision Fund 2 valuing Zeta at $1.45 billion. This is one of the largest single investments in a banking tech startup globally.
Zeta's employee benefits business merged with Sodexo BRS India in 2019. [29]
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