Zeta India

Zeta is an Indian FinTech company, co-founded by entrepreneurs Bhavin Turakhia and Ramki Gaddipati in 2015. The company offers a full stack, cloud native, API-first neo-banking platform. It also has a digital core and a payment engine for issuance of credit, debit and prepaid products.[1][2][3]

For other uses, see Zeta (disambiguation).

Zeta
Type of businessPrivately held company
Founded2015
HeadquartersBangalore, India
Founder(s)Bhavin Turakhia
Ramki Gaddipati
Key peopleBhavin Turakhia (CEO)
Ramki Gaddipati (CTO)
ParentDirecti
URLwww.zeta.tech
CommercialYes
RegistrationRequired
Current statusOnline

History

The company was founded in April 2015 by Bhavin Turakhia[4] and Ramki Gaddipati.[5] Its initial offerings were digitized enterprise solutions for employee tax benefits, automated cafeterias, employee gifting and digital payments.[6] In 2016, Bhavin Turakhia invested around $19 million into Zeta.[7] 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.[8] In June 2017, the company invested 5-10 crore to buy a minority stake in an HR solutions company called ZingHR.[9][10] Zeta has partnerships with IDFC Bank,[11] Sodexo,[12] Excelity Global,[13] Kotak Mahindra Bank[14][15] and RBL Bank.[8] Zeta launched the first employee benefits survey in India along with Nielsen Holdings in April 2018.[16] It also bought a minority stake in PeopleStrong in January 2018.[17] In 2019, Zeta received an investment from Sodexo BRS at a valuation of $300 million dollars[18]

Awards and recognition
  • Selected as one of the Emerge 50 startups by NASSCOM[19]
  • FinTech Rising Stars at India FinTech Awards 2017 by India FinTech Forum[20]
  • BusinessWorld Techtors Award 2018[21]

Merger

Zeta's employee benefits business merged with Sodexo BRS India in 2019.[22]

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See also

References
  1. Money, control (27 November 2019). "Zeta's Fusion:the bridge between banks and fintechs". Moneycontrol.com. India.
  2. New Indian, Express (30 January 2020). "Zeta to smoothen customers' banking experience with its platform Tachyon". New Indian Express.
  3. Special, Correspondent (5 December 2019). "Service-providing platform launchedfor fintech firms". The Hindu.
  4. Balachandran, Manu (23 August 2016). "The world's newest billionaires are two Indian brothers who founded a tech company in their teens". Quartz.
  5. "Bhavin Turakhia now bets on Zeta". The Times of India. 30 September 2016.
  6. "Zeta: Pathbreaking digital solutions for employee benefits & rewards". Express Computers. 5 December 2018.
  7. "Directi's Turakhia now bets on cloud venture Zeta". The Times of India. 30 September 2016.
  8. "Zeta ties up with RuPay for broader acceptance network". Economic Times (India). 11 April 2017.
  9. Singh, Arti (29 June 2017). "Bhavin Turakhia's digital meal voucher venture Zeta backs ZingHR". VCCircle.
  10. "Zeta Picks Up Stake in ZingHR for an Undisclosed Amount". BusinessWorld. 29 June 2017.
  11. Bhakta, Pratik (9 August 2017). "IDFC Bank partners with Zeta for digital payments solution". Economic Times (India).
  12. Pratap, Ketan (23 May 2017). "Sodexo Partners Zeta to Offer Employee Benefits Through Card, Other Digital Solutions". NDTV.
  13. "Excelity Global partners with Zeta". India Today. 8 June 2017.
  14. "Kotak Bank, Zeta launch digital prepaid solution for employees". New Indian Express. 17 September 2017.
  15. "Payments tech co Zeta ties up with Kotak Mahindra to tap corporates". Economic Times (India). 17 September 2017. Retrieved 23 October 2017.
  16. Sarkar, Brinda (23 April 2018). "62% of salaried employees find paper bills time-consuming: Study". The Economic Times.
  17. Guptoo, Bishwaroop (16 January 2018). "Bhavin Turakhia-promoted Zeta puts funds in PeopleStrong HR Services". The Times of India.
  18. "Fintech firm Zeta's valuation climbs to $300 million in its first external funding round". TechCrunch. Retrieved 23 July 2019.
  19. Modqil, Shweta (3 November 2017). "Nasscom Announces Emerge 50 Winners: The Top 50 Most Innovative Indian Startups". inc42.com.
  20. "GLIMPSES OF IFTA 2017". indiafintech.com. Retrieved 11 December 2017.
  21. Waqar, Ahmed Fahad (24 August 2018). "A Company With A Futuristic View". BusinessWorld.
  22. "Zeta's employee benefits business merges into Sodexo BRS India". Livemint. Retrieved 25 July 2019.
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