|Type of business||Privately held company|
|Key people||Bhavin Turakhia (CEO)|
Ramki Gaddipati (CTO)
|Parent||Zeta Services Inc.|
Zeta is a next-gen banking tech company by founders Bhavin Turakhia and Ramki Gaddipati in 2015. The company provides credit and debit card issuer processing, BNPL, core banking and "mobile experiences".[clarification needed] Zeta provides its products to banks and fintechs globally.
The company was founded in April 2015 by Bhavin Turakhia and Ramki Gaddipati. Its initial offerings were for employee tax benefits, automated cafeterias, employee gifting and digital payments. In 2016, Bhavin Turakhia invested around $19 million into Zeta. 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. In June 2017, the company invested 5-10 crore to buy a minority stake in an HR company called ZingHR. Zeta has partnerships with IDFC Bank, Sodexo, Excelity Global, Kotak Mahindra Bank and RBL Bank. Zeta launched the first employee benefits survey in India along with Nielsen Holdings in April 2018. It also bought a minority stake in PeopleStrong in January 2018. In 2019, Zeta received an investment from Sodexo BRS at a valuation of $300 million. In 2020, Zeta launched its technology platform-as-a-service in The Philippines and Vietnam with Sodexo being its first client in these countries. In 2021, Zeta secured Series C investment of $250 million from SoftBank Vision Fund 2 valueing Zeta at $1.45 billion. This is one of the largest single investments in a banking tech startup globally.
Zeta's employee benefits business merged with Sodexo BRS India in 2019.