Zeta, a banking tech platform, is sharing a new valuation for $50 million in funding. Zeta says pre-money valuation hit $2 billion compared to their prior valuation fo $1.15 billion at their last priced round.
The prior round in 2021 was led by Soft Bank, but Zeta did not share the lead investor in the most recent round.
Zeta’s Global CEO and Co-founder, Bhavin Turakhia, said in the past few years, they have supported over 25 million accounts, and they are on track to serve another 25 million as they add more clients.
“Our clients are breaking away from decades of legacy systems to deliver amazing digital experiences thereby increasing their customer satisfaction and accelerating new user acquisition.”
Zeta enables financial institutions to launch compliant asset products rapidly via its cloud-native and API-enabled services. Banks and Fintechs can chose from the full stack of financial services including credit and lending, savings and more.
Zeta’s co-founder, Ramki Gaddipati, said that while the past few years have been challenging for Fintechs, their organization has delivered multiple winning programs for clients in record times.
Zeta currently works with customers like HDFC Bank, India’s largest private bank, and Sparrow Financial, a card issuer for non-prime cardholders in the US and others.