Banking software startup Zeta is now a unicorn valued at $1.45 billion. Here's an exclusive look at the pitch deck it used to raise $250 million from Softbank.
Summary List Placement Japanese mega-investor Softbank has funneled $250 million into Indian fintech startup Zeta, marking continued investor appetite for companies disrupting legacy banking. The funding comes from Softbank's Vision Fund 2, a multibillion-dollar fund focused on tech startups. Softbank's first Vision Fund backed companies like Uber and WeWork to mixed success. Zeta provides software to financial institutions to power credit, debit, and pre-paid cards, alongside buy now, pay later and deposit services. Companies can plug in via an application programming interface, or API. For example, French hospitality group Sodexo (also a minority investor in the business), uses the platform to manage its employee benefits system and distribute cards for its meal pass offering. "Banks today use several disconnected monolithic software vendors that have been around for 20-plus years," Bhavin Turakhia CEO and cofounder of Zeta said. "As a result they are slow to innovate, provide poor user experience and end up with lower income and higher costs, operating in an inefficient manner." The Bangalore, India-based fintech, founded in 2015, has brought in one of the largest funding rounds for a banking tech company to date at a unicorn valuation of $1.45 billion.
Banking software startup Zeta is now a unicorn valued at $1.45 billion. Here's an exclusive look at the pitch deck it used to raise $250 million from Softbank.
Summary List Placement Japanese mega-investor Softbank has funneled $250 million into Indian fintech startup Zeta, marking continued investor appetite for companies disrupting legacy banking. The funding comes from Softbank's Vision Fund 2, a multibillion-dollar fund focused on tech startups. Softbank's first Vision Fund backed companies like Uber and WeWork to mixed success. Zeta provides software to financial institutions to power credit, debit, and pre-paid cards, alongside buy now, pay later and deposit services. Companies can plug in via an application programming interface, or API. For example, French hospitality group Sodexo (also a minority investor in the business), uses the platform to manage its employee benefits system and distribute cards for its meal pass offering. "Banks today use several disconnected monolithic software vendors that have been around for 20-plus years," Bhavin Turakhia CEO and cofounder of Zeta said. "As a result they are slow to innovate, provide poor user experience and end up with lower income and higher costs, operating in an inefficient manner." The Bangalore, India-based fintech, founded in 2015, has brought in one of the largest funding rounds for a banking tech company to date at a unicorn valuation of $1.45 billion.