ZETA- The New Age Unicorn

By - Sahaj Singh Saluja

Zeta might be a modern banking technology company that offers an Omni Stack
that includes modern credit and debit processing, BNPL, core banking, and mobile
banking.Zeta provides its products to banks and fintech globally.
Zeta’s offerings comprise -
The Zeta Tachyon Suite is a modern suite that includes core banking, credit
and debit processing, prepaid hosting, and loans, all of which are combined
with a mobile app to help banks sell more loans and prevent fraud with a
neobank experience. Zeta Fusion is an Embeddable Banking platform that
allows banks to provide APIs and SDKs to fintech, neobanks, and
distributors, allowing them to integrate prepaid, credit, debit, and loan
products into their apps and experiences.

(Source :- Techcrunch)
Founded by Bhavin Turakhia and Ramki Gaddipati in 2015, Zeta was a startup that
has a full-stack solution and allows banks and fintech firms to allow financial
services like credit card processing, mobile banking, and private finance
management online while not having to reinvent the wheel.
Modern credit and debit processing, loans, deposits, and configurable mobile and
online apps are all part of a unified retail banking software stack.From the ground
up, the Zeta platform was built to be infinitely scalable, cloud-native, and
API-ready.

Zeta's Omni Stack provides the subsequent key benefits:

● Speed and agility

In just a few weeks, they can launch goods and features.

● Better Cost to Income Ratio

Increase self-service, decrease fraud, take advantage of the cloud, cut vendors,
boost retention, and improve cross-selling

● Modern UX

Modern mobile and web experiences with a white label

● Open Banking ready

With 100% API coverage

“Software from the days when mainframes and Cobol were commonplace is still
used by the majority of banks. They are sluggish in terms of innovation and
provide poor user experiences. FIs may adopt Zeta's latest cloud-native platform to
boost speed to market, agility, cost to income ratio, and user experience, according
to Turakhia, CEO and co-founder of Zeta.

It believes that it’s time for financial institutions to prevent using technology that’s
older than their customers and to deploy an Omni Stack to power banking
experiences that belong in 2021.

“As the world becomes more digital, banks face new challenges in terms of
security, privacy, and data protection. The industry requires systems that are built
on a foundation of security, privacy, scalability, and reliability. In a statement,
Ramki Gaddipati, co-founder and chief technology officer of Zeta, said, "Zeta's
Omni Stack answers that requirement."

Zeta has built a technology stack that allows it to work with banks, fintech firms,
and other online consumer platforms.It’s essentially a bank in the box- they
provide everything a bank might have to provide innovative products to their
customers.

2015
❖ Zeta, the brainchild of Bhavin Turakhia and Ramki Gaddipati, is born..
❖ Launched the Zeta meal voucher
❖ Signed first banking partnership with RBL Bank

2016
❖ Launched Zeta Super Card, together with features like Swipe to Pay & Super
Pin
❖ 600+ corporates go live

2017
❖ Spotlight, our digital gifting solution for corporate employees, was launched.
❖ An exclusive meal relationship between Sodexo and Zeta was inked.
❖ Zeta signed a partnership with IDFC First bank and Kotak Bank

2018
❖ Sodexo India - Zeta Benefits business merger
❖ During the present-giving season, we sold $10 million in gift cards.
❖ Signed up 15k corporate clients and two and half million-plus users on the
Zeta platform
❖ Clocked 1M successful payments during a day

2019
❖ Signed Sodexo-Zeta global partnership to achieve a $300M valuation
❖ The Philippines and Vietnam have joined the Zeta family!
❖ Launched Fusion, simplifying embeddable banking for Fintechs
2020
❖ Launched Tachyon & Cipher
❖ Brazil, Italy and Spain go live!
❖ Successful demo of 1M transactions per second!
❖ Onboarded two partners for cashless payments

2021
❖ UK and US go live
❖ During the global outbreak, we virtually onboarded 35% of our 1k+ staff.

On 24th May 2021, announced that it’s secured $250 million in investment from
SoftBank Vision Fund 2. Zeta is valued at $1.45 billion as a result of this Series C
investment. This is often during of the biggest single investments in a banking tech
startup globally.

Zeta is the latest investment in India by SoftBank Vision Fund 2. The Japanese
conglomerate, which minted another unicorn in social commerce Meesho last
month, is in the advanced stages of talks to fund up to $500 million in food
delivery giant Swiggy and is additionally engaging with SaaS startup WhatFix.

“Banking software is anticipated to be worth $300 billion globally. In a press

release, Munish Varma, a managing partner at SoftBank Investment Advisers,
stated, "Most banks continue to use technology that is decades older than their
consumers, negatively impacting user experience and engagement."
As Tiger Global, Falcon Edge, and SoftBank speed their pace of investing in India,
the world's second-largest internet market, Zeta became the 14th Indian firm to
become a unicorn this year.

Let’s See what the future holds for zeta and will it be able to go Public?