Indian Fintech Zeta raises $60 million, planning UK expansion


LONDON: India based fintech startup Zeta, which offers employee expense management, corporate gifting and co-branded debit and credit cards, has raised around $60 million in a Series C round.

The fundraising round was led by France based Sodexo and took the company valuation to $300 million.

It is the first time the company has raised outside funding and it was being self-funded by co-founders until now.

The new capital will be used to help the company’s into United Kingdom and other markets.

Turakhia and Ramki Gaddipati, the startup’s CTO and co-founder, told TechCrunch in an interview. It has already signed contracts with many partners to facilitate the expansion in the next six months.

Turakhia added that “the United Kingdom has seen significant innovation in the fintech space with more challenger banks operating here than any other country worldwide. Zeta has already begun hiring senior leadership in the United Kingdom with the goal of providing our unique banking solutions to operators here.” 

Zeta has already amassed over 2 million users, and three different banks and financial institutions, and more than 14,000 corporate clients.