Australia-based fintech company Zeller has announced that it has expanded its business banking platform to the UK, with the move marking its first international entry.
At the time of writing, Zeller has already appointed the UK country managers and was looking to have a significant physical presence in the region over the next three years. The company recruited team members ahead of the launch to prepare for the rollout.
Additionally, representatives from Zeller mentioned that the company’s existing global partnerships with Oracle, Xero, Tevalis, and Redcat are set to provide it with the integrations to expand internationally. Zeller also highlighted that, since the start of its operations, it has been focusing on creating a global platform for small business banking. Now, by entering the UK market, which is among the largest and most dynamic small business economies worldwide, the company aims to make another step in achieving this goal.
In its home country, Zeller has grown its presence substantially, having served the banking needs of over 100,000 businesses since its launch in 2020, while also building a team of 320 employees. The company also achieved unicorn status, being valued at over USD 1 billion, in 2022, after securing USD 100 million in a Series B funding round in March that year.
Zeller’s UK offering
When it comes to the UK, Zeller plans to facilitate access to payments, business accounts, cards, expense management, invoicing, and real-time financial reports, the same solutions that Australian businesses benefit from. The company sees the UK as a significant opportunity, as over 50% of small and medium-sized enterprises (SMEs) in the region still leverage up to ten disconnected payment and banking tools to manage their finances. By rolling out in the UK, Zeller aims to provide these businesses with a unified solution that meets their needs, demands, and preferences and supports their growth.
Furthermore, officials from Zeller added that the decision to enter the UK now underlines both the maturity of their company’s product and the global opportunity ahead to offer a more accessible way for small businesses to manage their cash flow.
