Zeta, a digital banking and payments solution, has closed its Series C which has brought its company valuation up to $300m.
While the value of the investment was not disclosed, it was backed by Sodexo Benefits and Rewards Services (BRS). The company received a minority stake in Zeta.
Following the close of the round, the FinTech hopes to expand its operations into the US, UK, Europe and Southeast Asia. The company currently offers its banking services to companies and banks across Asia and Latin America.
As part of the deal, Sodexo will be deploying the Zeta platform across several of its subsidiaries in multiple regions.
The company provides banks and financial services with a cloud-native banking platform for credit, debit and prepaid card issuance. Its end-to-end card management offering supports transaction processing, tokenisation, contactless payments, and multi-currency payments.
To minimise a client’s exposure to fraud and risk, Zeta supplies multi-factor authentication services.
In addition to the banking tools, the FinTech offers enterprise payment solutions which support payments to employees and vendors, as well as collection from clients and consumers.
Zeta co-founder and CEO Bhavin Turakhia said, “Zeta continues to be ahead of this curve, with the ultimate goal of making payments invisible and seamless for customers. Today’s banking and fintech ecosystem requires cloud-native, privacy-aware, inherently secure, API first banking and payment solutions.
“The United States will be one of the most important markets for us, and we have already started hiring a senior leadership team who will drive the business in the country. We will be expanding our operations in over 15 countries in the next two years.”
This investment marks the first outside capital to be raised by Zeta. Prior to this, the company had exclusively been funded by its founders Bhavin Turakhia and Ramki Gaddipati.
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