The Mumbai-based company will raise this round at a valuation of over $1 billion after this round is closed and enter the unicorn club.
Modern banking tech company, Zeta is in talks to raise around $250 million in its Series-D round led by SoftBank Vision Fund 2. The Mumbai-based company will raise this round at a valuation of over $1 billion and enter the unicorn club.
In July 2019, Zeta raised $60 million in its Series C round from Sodexo, reaching a valuation of $300 million. After CRED and Groww, Zeta will be the third fintech start-up to attain unicorn status in April 2021, and seventh in the month thus far. Post the deal, it will also record a 300% jump in valuation on the lines of Meesho, Groww, and CRED.
Founded in 2015, Zeta started off as expense management, tax-saving reimbursement, salary disbursement, employee recognition and rewards, and as well as corporate cafeteria solutions platform. Led by Ramki Gadipatti and Bhavin Thurakia, Zeta is a full-stack neo-banking platform for issuing debit, credit, and prepaid products, enabling financial institutions and banks to launch modern corporate fintech products. The start-up helps financial institutions in risk management, authentication, and fraud. The company counts IDFC First Bank, RBL Bank, and Kotak Mahindra Bank as its clients along with 14,000 more corporate bodies.
Source: Business World
