Zeta raises $250 million from Softbank at $1.45 billion value for fastening global play

Zeta, a banking technology start-up co-founded by serial entrepreneur Bhavin Turakhia, on Monday announced a USD 250-million fundraising from Japanese investment major Softbank, which will help it accelerate its global expansion efforts.

French employee benefits company Sodexo, a strategic investor that had invested in 2019 at a valuation of USD 300 million, also put in USD 10 million in the current round.

This is the first institutional fundraise for both Zeta and its Chief Executive Officer Bhavin Turakhia, a billionaire who has four ventures under his belt. The company offers a full stack technology back-end for retail and commercial lenders which is cheaper and faster than the legacy platforms, its founders said, pegging the addressable market at USD 300 billion annually.