Zeta was founded by Bhavin and Ramki in 2015. The company’s vision is to make payments invisible and seamless, and the company has built an Omni Stack for Financial Institutions (FIs) for debit, credit, prepaid, loans, authentication, and Fraud and Risk Management (FRM).
The company provides software development services such as credit and debit card processing, and APIs to operate natively within cloud-native apps.
As per the audited financial statements of the company, the company generated a revenue of INR 615 crores from its business operations during FY22.
In order to raise the scale of business, the company expanded its human capital and spent INR 515 crores on its benefits; this also includes ESOP expenses of INR 98.7 crores. The company has spent INR 56 crores on legal expenditures.
They also spent INR 13 crores on recruitment and training expenses, along with rent and insurance expenditures of INR 11.4 crores. They have also incurred an expense of INR 22.2 crores on business support, software, training, and server costs together. With this, the total expenditure of the company during FY22 stood at INR 637 crores.
The company became a unicorn in May ’21 by raising $250 million in its Round-C funding from SoftBank. In Mar ’22, they raised another $30 million from MasterCard and took the valuation to $1.5 billion.
With the rise in the scale of business and operations, the company finished its business operations for FY22 at an overall loss of INR 20.7 crores.
As per the financials, the company financial metrics EBITDA margin and BPS were improved to 1024 and -1.81% respectively. As per the analysis, it has been observed that the company has spent INR 1.04 for generating a revenue of INR 1.