Zeta India’s Revenue Jumps To INR 305 Cr In FY21, Loss Widens To INR 43 Cr
- ByStartupStory | October 4, 2022
Founded by Turakhia and Ramiki Gaddipati in 2015, Zeta offers a cloud-native neo-banking platform for issuance of credit, debit and prepaid products that helps companies launch retail and corporate products. It also offers digitised solutions to enterprises such as automated cafeteria billing and more. Despite reporting a 2.4X jump in its standalone total revenue in the financial year 2020-21 (FY21), fintech unicorn Zeta’s loss widened 2.1X to INR 125.5 Cr during the year.
The total revenue of Better World Technology Private Limited, the parent entity of Zeta India, rose to INR 305.4 Cr in FY21 from INR 125.5 Cr in FY20. Total expenses surged 142% to INR 347 Cr from INR 143 Cr in the FY21.
The rise in the San Francisco headquartered financial infrastructure provider’s operating revenue can be attributed to the increased dependency on online payments both in the B2B and B2C space. As the pandemic wrecked havoc across the world, online payments found more acceptance during FY21. The startup’s other income rose to INR 8.2 Cr in FY21 from INR 3.9 Cr in the earlier year.
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