Zeta | a banking software startup became India’s newest unicorn, after a raise of $250 million in a round led by SoftBank
- ByStartupStory | March 5, 2022
Zeta is Serial entrepreneur Bhavin Turakhia’s banking software startup that became India’s newest unicorn after a raise of $250 million at a valuation of $1.45 Billion this week, in a round led by SoftBank.
While Zeta derives a majority of its current $10-$11 million revenue from a single client Sodexo. Turakhia believes that over the next decade, it has the potential to scale up to hundreds of millions of dollars in revenue, tapping into the $300 billion market for banking software globally.
While currently using older solutions like Finacle and Flexcube from IT firms, it wants to reimagine the core banking stack for traditional banks. In order to create accounts, help customers track their expenses and apply for loans & credit cards seamlessly, it wants to provide banks and fintechs with a mobile-first platform .
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