Fintech firm Zeta’s valuation climbs to $300M in its first external funding round

Startups looking to expand the reach of financial services continue to receive a nod from investors. Zeta, a fintech firm that runs a full stack neo-banking platform and offers enterprise payments solutions, said today its valuation reached $300 million in its maiden outside funding.

Sodexo BRS funded Zeta’s Series C round to take a minority stake in the company. Zeta executives declined to reveal the size of the funding, but a person familiar with the matter told TechCrunch the amount was less than $60 million.

This is the first time Zeta — or its CEO and co-founder Bhavin Turakhia — has raised money from an outside party, he told TechCrunch in an interview.

Turakhia, 39, has co-founded a number of web companies over the years, which he sold for $160 million in 2014, and team collaboration and productivity app Flock. Flock too has not raised any outside capital to date.

Zeta operates in Asia and Latin America and counts as its potential clients companies and banks looking to bring retail and corporate fintech products. Its full stack cloud-native neo-banking platform supports issuance of credit, debit and prepaid products. Its enterprise solutions features support for TnE cards, P-cards, expense

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