Zeta is the most recent Indian startup to join the desired unicorn club, bringing $300 million up in a round drove by SoftBank Vision Fund II. Existing investor Sodexo likewise perform in the round.
The venture gives the Bengaluru-based fintech startup a valuation of $1.45 billion, almost multiple times its past valuation of $300 million from its Series C round in 2019.
The organization, established in 2016 by sequential business person Bhavin Turakhia and his sibling Divyank, represents considerable authority in assisting keeps money with building present day retail and fintech administrations for its clients.
This makes Zeta the fourteenth startup to turn into a unicorn in 2021. It joins other fintech firms like Cred, Razorpay a Groww, and highlights the developing interest among value financial backers for development stage fintech organizations in India.
Their model is to persuade large banks to re-appropriate tech infra abilities to Zeta, empowering the moneylenders to zero in on backend consistence and administrations. Its customers remember banks for Asia and South America. The startup likewise has a cloud-local API-first financial stack for simple combinations.
The organization has now dispatched an omnichannel API stack for monetary establishments, which will empower it to fabricate specific backend rails for neobanking, buyer credits and extortion investigation.
Avendus Capital was the exclusive financial advisor to Zeta on the transaction.