The company will invest the infused capital for expanding business in gobal markets including United States, United Kingdom, Europe, as well as South East Asia.
“Today’s banking and fintech ecosystem requires cloud-native, privacy-aware, inherently secure, API-first banking and payment solutions. With this new investment, we want to further our vision to accelerate to a world where payments are invisible and seamless. We will be expanding our operations to over 15 countries in the next two years,” Bhavin Turakhia, co-founder and CEO of Zeta, said.
Fintech startup Zeta was co-founded by Bhavin Turakhia and Ramki Gaddipati in 2015. It provides full-stack, cloud-based neo-banking platform for issuance of credit, debit, and prepaid products that enable legacy banks and corporations to launch engaging retail and corporate products.
While, Sodexo is a french food services and facilities management company headquartered in the Paris suburb of Issy-les-Moulineaux.
It is one of the world’s largest multinational corporations, with 420,000 employees that represent 130 nationalities and are present on 34,000 sites in 80 countries.
Gaddipati, Co-founder and CTO, Zeta said, “At Zeta, we have been creating a robust platform over the last five years to solve for use cases that could not be addressed through legacy approaches. This investment will also allow us to enhance our capabilities in machine learning, artificial intelligence and predictive analytics so that we can offer better services with more actionable information to our clients and users.”
“Sodexo has been a strategic partner of Zeta since 2017,” said Aurelien Sonet, CEO, Sodexo Benefits and Rewards Services.
“This investment will enable the Sodexo group to benefit from Zeta’s seamless payment experience and offer a comprehensive suite of solutions to our consumers. Zeta and Sodexo are already working together on deploying Zeta’s platform across several Sodexo subsidiaries across different regions.” he added.