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 funding round, which Zeta received $240 million in last May from SoftBank Vision Fund 2, is being continued. 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.
Zeta & Mastercard plan to partner together and issue 30-40 million credit and debit cards, as well as process $60 billion of total payments via their payment and banking products.
Zeta, through its white-label platform Tachyon, will offer additional capabilities to Mastercard bank partners.
Tachyon allows banks and other financial institutions to offer credit products, personal loans, buy-now-pay later (BNPL), upsell credit, reduce fraud, and issue credit products.
Zeta was founded in April 2015. It provides technology infrastructure for banks to help them manage deposits and customer payments.