The company was founded in April 2015 by
Bhavin Turakhia[4] and Ramki Gaddipati.[5] Its initial offerings were for employee tax benefits, automated cafeterias, employee gifting and digital payments.[6] In 2016,
Bhavin Turakhia invested around $19 million into Zeta.[7] Initially, Zeta payments was only supported by the
MasterCard network but later the company also tied up with the
National Payments Corporation of India's
RuPay.[8]
In June 2017, the company invested 5-10 crore to buy a minority stake in an HR company called ZingHR.[9][10]
Zeta has partnerships with
IDFC Bank,[11]Sodexo,[12] Excelity Global,[13]Kotak Mahindra Bank[14][15] and
RBL Bank.[8] Zeta launched the first employee benefits survey in India along with
Nielsen Holdings in April 2018.[16] It also bought a minority stake in PeopleStrong in January 2018.[17] In 2019, Zeta received an investment from
Sodexo BRS at a valuation of $300 million.[18] In 2020, Zeta launched its technology platform-as-a-service in the Philippines and Vietnam with Sodexo being its first client in these countries.
[1] In 2021, Zeta secured a Series C investment of
$250 million from
SoftBank Vision Fund 2 valuing Zeta at $1.45 billion. This is one of the
largest single investments in a banking tech startup globally.
Awards and recognition
Selected as one of the Emerge 50 startups by
NASSCOM.[19]
FinTech Rising Stars at India FinTech Awards 2017 by India FinTech Forum.[20]