Banking tech platform Zeta has raised $30 million as a part of strategic investment from Mastercard and other investors, taking the company’s valuation to $1.5 billion.
This is a continuation of the $240 million funding round that Zeta raised last May, led by SoftBank Vision Fund 2. The round valued the company at $1.45 billion, marking its entry into India’s unicorn club.
Mastercard’s investment in Zeta is a part of a strategic five-year partnership in which both companies will offer their credit management offerings and card-processing product stack.
Over the course of the partnership, both Zeta and Mastercard look to issue 30-40 million debit and credit cards and process $60 billion in total payment value through their banking and payment products.
Through its white-label platform Tachyon, Zeta will also provide additional capabilities to bank partnerships of Mastercard.
Tachyon allows banks to roll out credit products, issue personal loans, offer buy-now-pay-later (BNPL), upsell credit, and reduce fraud.
Founded in April 2015, Zeta provides technology infrastructure to banks, helping them manage customer payments and deposits while helping them embed offerings from fintech firms.
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