This marks a significant increase from its pre-money valuation of USD 1.15 billion in 2021, when it secured USD 250 million from SoftBank Vision Fund 2 and other investors.
The latest funding round was led by American healthcare company Optum, reflecting growing investor interest in the banking technology sector. The fintech unicorn plans to utilise the capital to expand its operations and improve product development.
Founded in 2015, Zeta provides banking and fintech firms with a cloud-native SaaS platform that enables the launch of asset, liability, and payment products. These offerings include credit cards, checking accounts, savings accounts, and unsecured loans.
Zeta has onboarded over 25 million accounts on its processing platform, Tachyon, with another 25 million expected through ongoing contracts. The company aims to help banks move away from legacy systems, improve digital customer experiences, and accelerate user acquisition.
The company serves financial institutions such as HDFC Bank, where it has introduced a suite of products, including Pixel, a digital-native credit card program. Other clients include Pluxee, a global corporate benefits provider, and Sparrow Financial, a US-based card issuer catering to non-prime cardholders.
Zeta has been actively expanding its footprint in India’s credit-on-UPI market. Since launching its credit-on-UPI stack in May, the company has facilitated digital origination, distribution, and collection processes for banks. It aims to capture 50% of this market amid the rising demand for credit-linked UPI transactions.
The company operates on a pay-per-use revenue model and has secured a total of USD 340 million in funding from investors, including SoftBank and Mastercard.
Investor interest in the fintech infrastructure space remains strong. In recent months, API infrastructure firm M2P Fintech raised approximately USD 102 million in a funding round led by Helios Investment Partners. Meanwhile, Juspay is reportedly in talks to secure USD 150 million from investors, including Kedaara Capital, WestBridge, and SoftBank.
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