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Sodexo takes strategic minority stake in Zeta, an Indian fintech company

July 23, 2019

Sodexo, world leader in Quality of Life services, announced today that its Benefits & Rewards Services (BRS) activity has entered into final discussions to take a strategic minority stake in Zeta, , which has been partnering with Sodexo BRS India since 2017.

This investment will be part of BRS’s on-going strategic initiatives to reinforce its technology and development capacities to accelerate digitization in all its activities around the world.

Beyond BRS, the whole of the Sodexo group will also benefit from Zeta’s comprehensive technological suite of seamless payment solutions to foster synergies across activities ultimately benefiting its 100 million consumers. Zeta and Sodexo are already working on deploying Zeta’s know-how in several BRS subsidiaries in different regions, such as in Latin America and in Asia.

“Our investment in Zeta will give us the opportunity to accelerate our digitization journey globally. This investment will bring together the agility and technical skills of Zeta and Sodexo’s expertise in Employee Benefits Services to enhance the overall Employee Experience”. said Aurelien Sonet, Chief Executive Officer, Sodexo Benefits & Rewards Services

“Zeta’s vision is to accelerate the movement towards a world where payments are invisible. Today’s banking and fintech ecosystem requires cloud-native, privacy-aware, inherently secure, API first banking and payment solutions”. says Bhavin Turakhia, Co-Founder and CEO of Zeta. “With this new capital, Zeta would look at expanding its business in the United States, United Kingdom, Europe and Southeast Asia. We have already begun hiring senior leadership in US & UK. We will be operating in over 20 countries with over 25 million users on our platform in the next 2 years” he added.

Until now, Zeta has been funded by co-founders Bhavin Turakhia and Ramki Gaddipati. The new capital will bring Zeta’s total valuation to $0.3Bn.

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