Banking start-up Zeta raises $250 mn from SoftBank

Banking technology start-up Zeta on Monday received $250 million in investment from SoftBank Vision Fund 2. This Series C investment values Zeta at $1.45 billion.

“With Zeta, financial institutions can leverage a modern, cloud-native platform and improve speed to market, agility, cost-to-income ratio and user experience” said Bhavin Turakhia, CEO and co-founder, Zeta.

Munish Varma, managing partner, SoftBank Investment Advisers, said banking software was a $300-billion industry globally. Most banks still employed technology that was significantly older than their customers, adversely impacting user experience and engagement.

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