Banking Tech Startup Zeta Raises $50 Mn From Optum

Banking tech startup Zeta has raised $50 million in its fresh funding from US-based Optum, increasing its valuation to $2 billion, up from $1.45 billion in 2021.

Before this, the Bengaluru-based Zeta raised $340 million from SoftBank and Mastercard.

The company said this a strategic funding round and aims to become profitable by March 2026, expecting to reach an annual revenue run rate of over $100 million by then.

Read also- Digital Payments Firm ToneTag Raises $78 Mn Funding Round

“Clients are rapidly adopting our modern stack.The company’s cloud-native platform, Tachyon, currently supports over 25 million accounts, with another 25 million expected to be added through existing contracts, said, Zeta’s Global CEO and Co founder Bhavin Turakhia. 

The funding comes amid what Co-founder Ramki Gaddipati described as a “challenging” period for the banking technology sector. “Our team has delivered multiple successful programs for clients in record time,” Gaddipati said, emphasising the company’s focus on partnerships with regulated financial institutions.

About Zeta 

Founded in 2015 by serial entrepreneur Bhavin Turakhia and Ramki Gaddipati, Zeta provides a cloud-based banking tech platform and operates in India and the US. It powers HDFC Bank’s fintech platform, PayZapp, in India. Currently, half of Zeta’s revenue comes from the US, with the rest from india.

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