Zeta, a banking software provider, has raised US$50 million from the American healthcare company Optum, increasing its valuation to US$2 billion.

This marks an increase from US$1.15 billion in 2021, when Zeta secured US$250 million from SoftBank Vision Fund 2.

Founded in 2015 by Bhavin Turakhia and Ramki Gaddipati, Zeta helps banks and fintech firms modernize credit card management, checking accounts, and lending services through cloud-based technology.

It serves 25 million accounts and plans to onboard another 25 million. The US is its largest market, followed by India, where it generates over US$50 million annually.

Its clients include HDFC Bank, Pluxee, and U.S.-based Sparrow Financial.

Since its founding, Zeta has invested about U$400 million in its platform and aims for profitability by Mach 2026.