Fintech unicorn Zeta raises $30-M from Mastercard, others

Bengaluru-headquartered fintech unicorn Zeta has raised USD 30 million in a fresh round from global payments major, Mastercard, and other investors. Zeta's valuation has now risen to over USD 1.5 Billion. As part of the deal, Mastercard will jointly launch credit cards on Zeta's credit processing stack. The deal will also enable Zeta to leverage Mastercard's fraud prevention tools and loyalty solutions for its platform. Founded in 2015 by Bhavin Turakhia and Ramki Gaddipati, Zeta offers cloud-native neo-banking platform for the issuance of credit, debit and prepaid products. It also provides digitised solutions to enterprises such as automated cafeteria billing and more. Zeta claims to have Axis Bank, Kotak Mahindra Bank, Yes Bank, Induslnd Bank, and HDFC Bank among its clients. It has more than 1,300 employees across US, UK, Middle East, and Asia. The startup had previously raised USD 250 million in a Series C round led by SoftBank Vision Fund 2 in May last year.