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2021-08-03T17:30:55Z

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{{Other uses|Zeta (disambiguation)}}
{{Use dmy dates|date=October 2018}}
{{Use Indian English|date=October 2018}}
{{Infobox website
| logo = Zeta Services logo.png
| name = Zeta
| company_type = [[Privately held company]]
| registration = Required
| founded = 2015
| founder = [[Bhavin Turakhia]] Ramki Gaddipati
| location = San Francisco, California
| services =
| key_people = [[Bhavin Turakhia]] (CEO) Ramki Gaddipati (CTO)
| parent = Zeta Services Inc.
| website = {{URL|https://www.zeta.tech/}}
| num_employees = 500-1000
| commercial = Yes
| current_status = Online
}}'''Zeta''' is a modern banking tech company, co-founded by entrepreneurs [[Bhavin Turakhia]] and Ramki Gaddipati in 2015. The company provides an [https://www.fortuneindia.com/enterprise/with-softbank-investment-zeta-becomes-a-unicorn/105496 Omni Stack] comprising modern credit and debit processing, BNPL, core banking and mobile experiences. Zeta provides its products to banks and fintechs [https://www.finextra.com/newsarticle/38111/zeta-enters-unicorn-territory-on-250-million-softbank-investment?utm_medium=rssfinextra&utm_source=finextrafeed globally].<ref>{{cite news|last1=Money|first1=control|title=Zeta's Fusion:the bridge between banks and fintechs|url=https://www.moneycontrol.com/news/technology/zetas-fusion-the-bridge-between-banks-and-fintechs-4680241.html|newspaper=[[Moneycontrol.com (India)|Moneycontrol.com]]|location=India|date=2019-11-27}}</ref><ref>{{cite news|last1=New Indian|first1=Express|title=Zeta to smoothen customers' banking experience with its platform Tachyon|url=https://www.newindianexpress.com/business/2020/jan/30/zeta-to-smoothen-customers-banking-experience-with-its-platform-tachyon-2096496.html|publisher=[[New Indian Express]]|date=2020-01-30}}</ref><ref>{{cite news|last1=Wire|first1=PTI|date=2020-10-07|title=Service-providing platform launchedfor fintech firms|work=The Week|publisher=[[The Hindu]]|url=https://www.theweek.in/wire-updates/business/2020/10/07/pwr8-zeta.html}}</ref>

== History ==
The company was founded in April 2015 by [[Bhavin Turakhia]]<ref>{{cite news|last1=Balachandran|first1=Manu|title=The world's newest billionaires are two Indian brothers who founded a tech company in their teens|url=https://qz.com/763927/the-worlds-newest-billionaires-are-two-brothers-from-india-who-started-out-as-nerds/|publisher=[[Quartz (publication)|Quartz]]|date=2016-08-23}}</ref> and Ramki Gaddipati.<ref>{{cite news|title=Bhavin Turakhia now bets on Zeta|url=http://epaperbeta.timesofindia.com/Article.aspx?eid=31804&articlexml=Bhavin-Turakhia-now-bets-on-Zeta-30092016026023|newspaper=[[The Times of India]]|date=2016-09-30}}</ref> Its initial offerings were digitized enterprise solutions for employee tax benefits, automated cafeterias, employee gifting and digital payments.<ref>{{cite news|title=Zeta: Pathbreaking digital solutions for employee benefits & rewards|url=https://www.expresscomputer.in/startup/zeta-pathbreaking-digital-solutions-for-employee-benefits-rewards/30538/|newspaper=[[Express Computers]]|date=2018-12-05}}</ref> In 2016, [[Bhavin Turakhia]] invested around $19 million into Zeta.<ref>{{cite news|title=Directi's Turakhia now bets on cloud venture Zeta|url=https://timesofindia.indiatimes.com/companies/Directis-Turakhia-now-bets-on-cloud-venture-Zeta/articleshow/54597514.cms|work=[[The Times of India]]|date=2016-09-30}}</ref> Initially, Zeta payments was only supported by the [[MasterCard]] network but later the company also tied-up with the [[National Payments Corporation of India]]'s [[RuPay]].<ref name="Ecotimes"/>
In June 2017, the company invested 5-10 crore to buy a minority stake in an HR solutions{{buzzword inline|date=June 2019}} company called ZingHR.<ref>{{cite news|last1=Singh|first1=Arti|title=Bhavin Turakhia's digital meal voucher venture Zeta backs ZingHR|url=https://www.vccircle.com/bhavin-turakhias-digital-meal-voucher-venture-zeta-backs-zinghr/|publisher=[[VCCircle]]|date=2017-06-29}}</ref><ref name="bizworld">{{cite news|title=Zeta Picks Up Stake in ZingHR for an Undisclosed Amount|url=http://bwdisrupt.businessworld.in/article/Zeta-Picks-Up-Stake-in-ZingHR-for-an-Undisclosed-Amount/29-06-2017-121081/|publisher=[[BusinessWorld]]|date=2017-06-29}}</ref>
Zeta has partnerships with [[IDFC Bank]],<ref>{{cite news|last1=Bhakta|first1=Pratik|title=IDFC Bank partners with Zeta for digital payments solution|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-bank-partners-with-zeta-for-digital-payments-solution/articleshow/59983510.cms|publisher=[[Economic Times (India)]]|date=2017-08-09}}</ref> [[Sodexo]],<ref>{{cite news|last1=Pratap|first1=Ketan|title=Sodexo Partners Zeta to Offer Employee Benefits Through Card, Other Digital Solutions|url=http://gadgets.ndtv.com/others/news/sodexo-partners-zeta-for-employee-benefits-1697110|publisher=[[NDTV]]|date=2017-05-23}}</ref> Excelity Global,<ref>{{cite news|title=Excelity Global partners with Zeta|url=http://indiatoday.intoday.in/story/excelity-global-partners-with-zeta/1/973885.html|publisher=[[India Today]]|date=2017-06-08}}</ref> [[Kotak Mahindra Bank]]<ref>{{cite news|title=Kotak Bank, Zeta launch digital prepaid solution for employees|url=http://www.newindianexpress.com/pti-news/2017/oct/17/kotak-bank-zeta-launch-digital-prepaid-solution-for-employees-1676445.html|publisher=[[New Indian Express]]|date=2017-09-17}}</ref><ref>{{cite news|title=Payments tech co Zeta ties up with Kotak Mahindra to tap corporates|url=https://economictimes.indiatimes.com/small-biz/startups/payments-tech-co-zeta-ties-up-with-kotak-mahindra-to-tap-corporates/articleshow/61111334.cms|access-date=23 October 2017|publisher=[[Economic Times (India)]]|date=2017-09-17}}</ref> and [[RBL Bank]].<ref name="Ecotimes">{{cite news|title=Zeta ties up with RuPay for broader acceptance network|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/zeta-ties-up-with-rupay-for-broader-acceptance-network/articleshow/58128834.cms|publisher=[[Economic Times (India)]]|date=2017-04-11}}</ref> Zeta launched the first employee benefits survey in India along with [[Nielsen Holdings]] in April 2018.<ref>{{cite news |last1=Sarkar |first1=Brinda |title=62% of salaried employees find paper bills time-consuming: Study |url=https://economictimes.indiatimes.com/jobs/62-of-salaried-employees-find-paper-bills-time-consuming-study/articleshow/63887029.cms |publisher=[[The Economic Times]] |date=23 April 2018}}</ref> It also bought a minority stake in PeopleStrong in January 2018.<ref>{{cite news |last1=Guptoo |first1=Bishwaroop |title=Bhavin Turakhia-promoted Zeta puts funds in PeopleStrong HR Services |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/bhavin-turakhia-promoted-zeta-puts-funds-in-peoplestrong-hr-services/articleshow/62517366.cms |work=[[The Times of India]] |date=16 January 2018}}</ref> In 2019, Zeta received an investment from [[Sodexo|Sodexo BRS]] at a valuation of $300 million.<ref>{{Cite web|url=https://techcrunch.com/2019/07/23/zeta-300m-sodexo/|title=Fintech firm Zeta's valuation climbs to $300 million in its first external funding round|website=TechCrunch|access-date=2019-07-23}}</ref> In 2020, Zeta launched its technology platform-as-a-service in The Philippines and Vietnam with Sodexo being its first client in these countries.[https://www.entrepreneur.com/article/352675] In 2021, Zeta secured [https://www.pymnts.com/news/investment-tracker/2021/zeta-closes-250m-softbank-funding/ $250 million in investment] from [[SoftBank Vision Fund]] 2. This Series C investment values Zeta at $1.45 billion. This is one of the [https://www.fintechfutures.com/2021/05/softbank-pours-250-million-into-banking-tech-start-up-zeta/ largest single investments] in a banking tech startup globally.

== Awards and recognition ==
* Selected as one of the Emerge 50 startups by [[NASSCOM]]<ref>{{cite news|last1=Modqil|first1=Shweta|title=Nasscom Announces Emerge 50 Winners: The Top 50 Most Innovative Indian Startups|url=https://inc42.com/buzz/nasscom-emerge-50-startups/|publisher=inc42.com|date=2017-11-03}}</ref>
* FinTech Rising Stars at India FinTech Awards 2017 by India FinTech Forum<ref>{{cite web|title=GLIMPSES OF IFTA 2017|url=https://indiafintech.com/|website=indiafintech.com|access-date=2017-12-11}}</ref>
* [[BusinessWorld]] Techtors Award 2018<ref>{{cite news |last1=Waqar |first1=Ahmed Fahad |title=A Company With A Futuristic View |url=http://www.businessworld.in/article/A-Company-With-A-Futuristic-View/28-06-2018-153327/ |publisher=[[BusinessWorld]] |date=24 August 2018}}</ref>
*[http://www.businessworld.in/article/Zeta-Tachyon-Bags-Best-of-Show-Award-at-Finovate-West-Digital-2020/01-12-2020-348613/ Finovate West] Digital Best of Show Award 2020
*Business Today-KPMG [https://blog.zeta.tech/hubfs/Banking/Business%20Today%20-%20Zeta(Best%20Fintech).pdf Best Fintech] in Value Added Services Award 2020

== Merger ==
Zeta's employee benefits business merged with [[Sodexo|Sodexo BRS]] India in 2019.<ref>{{Cite web|url=https://www.livemint.com/companies/news/zeta-s-employee-benefits-business-merges-into-sodexo-svc-india-1564019684110.html|title=Zeta's employee benefits business merges into Sodexo BRS India|website=Livemint|access-date=2019-07-25}}</ref>

== See also ==
{{Portal|Internet|Companies|India}}
* [[Neobank]]
*[[Sodexo]]
* [[Paytm]]
* [[FreeCharge]]

==References==
{{reflist}}

{{FinTech in India}}

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[[Category:Financial services companies established in 2015]]
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Zeta (company) - Revision history

imported>HapHaxion at 17:30, 3 August 2021