Zeta, a modern banking tech company, has announced a $50 million investment from an undisclosed strategic investor, maintaining its $2 billion valuation. The SaaS company previously achieved unicorn status in May 2021 with a $250 million Series C funding round led by SoftBank Vision Fund 2. In March 2022, Mastercard also invested $30 million in Zeta, valuing the company at $1.5 billion.

Bhavin Turakia, Zeta’s Global Co-Founder and CEO, highlighted the company’s growth, stating that their cloud-native processing platform, Tachyon, currently supports over 25 million accounts and is projected to add another 25 million through existing contracts. He emphasized that Zeta’s clients are transitioning from outdated legacy systems to its platform, enabling them to create enhanced digital experiences, improve customer satisfaction, and accelerate user acquisition.

Zeta’s SaaS platform empowers banks and fintechs to launch various financial products, including credit cards, bank accounts, and loans for both individual and business customers. Built on a modern, cloud-native, API-first, and microservices-based architecture, the platform serves prominent financial institutions such as HDFC Bank, Pluxee, and Sparrow Financial. It supports innovative products like Pixel, a digital-native credit card program.

Zeta boasts a workforce of over 1,700 employees, with 70% in technology roles, spread across offices in the US, Middle East, and Asia. The platform claims to have facilitated over 25 million card issuances globally.

While global revenue figures remain undisclosed, Zeta's Indian entity demonstrated strong financial performance in FY24. Operating revenue increased by 9.42% to Rs. 893.12 crore, and profit after tax (PAT) saw a substantial 5.4x jump to Rs. 119.82 crore.