Zeta Raises $250Million from SoftBank Vision Fund 2
The Silicon Review
25 May, 2021
The modern banking startup, Zeta, has announced that the company has secured $250 million in investment from the SoftBank Vision Fund 2. This is the company’s Series C investment. The company post Series C is valued at $1.45 billion.
“Most banks are using decades old software built at a time when Mainframes and Cobol were in vogue. They have been slow to innovate and provide poor user experiences. With Zeta, FIs can leverage a modern, cloud native platform and improve speed to market, agility, cost to income ratio and user experience,” said Bhavin Turakhia, CEO, Zeta. “We are privileged to have SoftBank join us in this exciting journey as we together disrupt the stagnant landscape of banking tech,” Bhavin added.
SoftBank’s investment of $250 million is one of its largest single investments in a banking startup globally. Sodexo too participated in Series C as an additional minority investor.
Founded by Bhavin Turakhia and Ramki Gaddipati in 2015, Zeta counts 10 banks, 25 fintech companies as its customers, including Sodexo. The company has a good presence in North America, LATAM, UK, Europe and Asia.
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