Zeta pitch deck to raise $250m Series-C round

This is the Zeta pitch deck to raise a $250m series-c round in 2021.

About

Zeta is a modern banking tech company providing Modern Core and Processing for Financial Institutions and Embeddable Banking for fintechs and distributors. Zeta’s offerings comprise –

  • Tachyon Suite – A modern suite comprising core banking, credit and debit processing, prepaid hosting and loans, all integrated with a mobile app that enable banks to provide a neobank experience, sell more loans and reduce fraud
  • Fusion – An Embeddable Banking platform that enables banks to provide APIs and SDKs to fintechs, neobanks, distributors and enable them to embed prepaid, credit, debit and loan products within their apps and experiences

Zeta currently provides its products to banks, fintechs and enterprises globally. Co-founded in April 2015 by Bhavin Turakhia (CEO) and Ramki Gaddipati (CTO), the company currently has over 700 employees.

Japanese mega-investor Softbank has funneled $250 million into Indian fintech startup Zeta, marking continued investor appetite for companies disrupting legacy banking.

The funding comes from Softbank’s Vision Fund 2, a multibillion-dollar fund focused on tech startups. Softbank’s first Vision Fund backed companies like Uber and WeWork to mixed success.

Zeta provides software to financial institutions to power credit, debit, and pre-paid cards, alongside buy now, pay later and deposit services.

Companies can plug in via an application programming interface, or API. For example, French hospitality group Sodexo (also a minority investor in the business), uses the platform to manage its employee benefits system and distribute cards for its meal pass offering.

“Banks today use several disconnected monolithic software vendors that have been around for 20-plus years,” Bhavin Turakhia CEO and cofounder of Zeta said. “As a result they are slow to innovate, provide poor user experience and end up with lower income and higher costs, operating in an inefficient manner.”

The San Francisco-based fintech, founded in 2015, has brought in one of the largest funding rounds for a banking tech company to date at a unicorn valuation of $1.45 billion.

Fellow banking software business FintechOS recently raised $60 million from UK investors Draper Esprit while banking-as-a-service provider Treasury Prime also raised $30 million from QED Investors in May.

The funding takes Zeta to $310 million raised to date and the new capital will be used to continue the startup’s product and geographic expansion plans. The startup operates across eight countries and counts 10 banks and 25 fintech firms among its clients.

The company began the fundraising process last October, reaching out to 18 funds with only “five or six really understanding the vision, scope, and scale of the ambition we have,” Turakhia said.

He added that banking has been slow to embrace new technologies. “Even space travel has been disrupted before banking,” he said. “So we have taken on this undertaking of providing a much more modern platform for banks to help them provide the kind of experiences that today’s millennial and Gen Z customers deserve.”

Funding rounds

Announced Date
Transaction Name Number of Investors Money Raised Lead Investors
May 24, 2021 Series C – Zeta 2 $250M
SoftBank Vision Fund
Jul 23, 2019 Series C – Zeta 1 $60M Sodexo

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Zeta Pitch Deck

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