Zepto, an Australian account-to-account merchant payments platform, has raised AUD$25m in Series A funding.
The investment came from AirTree Ventures and Decade Partners.
Zepto’s platform lets merchants make, manage, and receive secure payments by connecting directly from the payer’s bank to a merchant’s bank.
The funding came after the company experienced “explosive growth” of 10x year-on-year revenue growth since 2018. Zepto is now facilitating more than $4 billion in payment volume each month, and currently serves hundreds of Australian businesses including Binance Australia, Superhero, Novatti Group, Nimble, Powerpay, Till Payments, Bluestone, Rentbetter, Biz Pay and Get Blys.
Describing the investment, Zepto CEO Chris Jewell said, “We are excited to partner with AirTree Ventures and Decade Partners on our first external funding round. From our roots as a bootstrapped Byron Bay upstart, Zepto has grown to become a market leader in the payments industry. We intend to use this capital to grow our team and technology in a meaningful, empowering way as we meet the demands of an ever-evolving domestic market, as well as accelerate our expansion into international markets.”
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