Zeta, a next-generation banking technology provider for financial institutions worldwide, has secured a $50 million investment from an undisclosed investor, bringing its valuation to $2 billion.
Previously, Zeta was valued at $1.15 billion in a pre-money valuation during its $250 million funding round with Softbank Vision Fund 2 and other notable investors in 2021. In March 2022, Mastercard participated in a $30 million funding round and established a five-year go-to-market partnership with Zeta.
Zeta’s Tachyon Credit platform encompasses the entire lifecycle of credit card programs, including issuance, core operations, payments, buy-now-pay-later (BNPL) loans, fraud prevention, risk management, and rewards systems. Issuers can leverage a suite of APIs to create new revenue streams by offering a comprehensive Banking-as-a-Service (BaaS) and embeddable banking solutions for co-brands, fintech companies, and affinity partners.
Globally, over 25 million cards have been issued on Zeta’s platform, with clients such as HDFC Bank, India’s largest private bank; Pluxee, a global corporate benefits provider; and Sparrow Financial, a card issuer targeting non-prime cardholders in the United States.
“We are incredibly excited about 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 another 25 million with contracts already in place. Our clients are moving away from decades of legacy systems to deliver exceptional digital experiences, thereby enhancing customer satisfaction and accelerating new user acquisition.”