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Founded in 2015, Zeta offers credit, debit and prepaid cards, loans and deposits, among other services, and wants to expand its footprint in the US, Europe, and India. ....
Image: Special Arrangement Two days after signing a $250 million deal with SoftBank, the 41-year-old Bhavin Turakhia is busy planning his expansion moves, sitting in Dubai. The investment by Japanese private equity behemoth has more than tripled the valuation of his banking technology startup firm Zeta and made it a unicorn, the 14th in India so far in 2021. “We are truly excited,” Turakhia, CEO and co-founder, tells Fortune India. Turakhia, a serial entrepreneur from Mumbai who made his fortune through exits, is excited about the journey because he has never raised any kind of venture capital, angel investment, growth fund, or private investment in the past, for any of the four companies he founded. “This is the first time ever in my lifetime that I have gone for institutionalised fundraising. And it is the one of the largest single funding raises by a banking tech start-up globally,” he says. ....
Dubai tech startup Zeta raises $250m to accelerate growth 0 Comments Get daily business news from the region delivered straight to your inbox I agree to the terms and conditions SIGN UP The investment values Zeta at $1.45bn by Zainab Mansoor May 25, 2021 Dubai-based banking tech startup, Zeta, has secured $250m in investment from SoftBank Vision Fund 2, it announced on May 24. The proceeds will be used to accelerate Zeta’s growth in the Middle East, the US and Europe, including scaling its operations, team, and platform to meet growing customer demands, a statement said. This Series C investment values Zeta at $1.45bn. Avendus Capital acted as the financial advisor on this transaction. ....
Rake it in SUBSCRIBE Thank you for subscribing to Morning Dispatch We ll soon meet in your inbox. / Morning Dispatch India’s financial influencers are having a moment in the sun. Keen to tap their huge followings, online stock brokerages are lining up to offer them hefty commissions in exchange for more users. Also in this letter: Delhi police descend on Online brokerages are fueling the financial inluencer economy Hi, it’s Apoorva. Financial influencers are much in demand these days as India’s online stock brokerage firms, flush with cash, tap the growing community to bring some of their followers and viewers onto their platforms. ....