Zeta raises $50 million at a valuation of $2 billion
16 Feb 2025, 01:50 AMThe new investment from US-based healthcare firm Optum values the banking tech company at $2 billion.
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Zeta, , a provider of banking software to banks and fintech startups, has secured $50 million investment from a strategic investor Optum.
The new investment from US-based healthcare firm values Zeta at $2 billion. This is 1.7x increase from $1.5 billion it fetched in 2021, when it raised $250 million in a round led by SoftBank Vision Fund 2.
Founded in 2015 by Bhavin Turakhia and Ramki Gaddipati, Zeta provides core banking, payments, merchant acquiring, digital banking, credit card solutions to banks. The company is backed by Mastercard.
“We are incredibly excited at the pace at which clients are embracing our modern stack,” said Zeta’s global CEO and co-founder Bhavin Turakhia.
“Over the past few years, we have supported over 25 million accounts on our cloud-native processing platform Tachyon and are on track to add 25 million more with contracts already in flight. 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," he added.
Over past two years, Zeta has been aggressively focussing on the US market. In India, HDFC Bank was Zeta's biggest client. Currently, US has become the biggest market, followed by India, for the company. In US, Zeta reportedly generates annual revenue of more than $50 million.
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