Indian banking tech startup joins unicorn club with $250m SoftBank-led round

Details:

• The fintech firm raised US$250 million in its series C round, which was led by SoftBank Vision Fund 2. Existing investor Sodexo also joined the fundraise.
• The latest round also gives Zeta a valuation of US$1.45 billion.

Context:

• In 2019, Zeta closed its first external funding round to expand its business in the US, UK, Europe, and Southeast Asia.
• SoftBank’s recent funding also created a unicorn out of Meesho, a social commerce startup for Indian entrepreneurs and consumers. Zeta joins a slew of Indian startups that joined the unicorn club this year, including insurtech company Digit, healthtech firm Innovaccer, and online construction marketplace Infra Market. 

Correction (May 24, 2021 23:06pm SGT): This article was updated as it incorrectly mentioned Zeta as a neobank. It also mentioned that the round of funding was its series D, instead of series C.