Wednesday , August 17 2022

Bhavin Turakhia’s Zeta raises $250M from SoftBank

Bhavin Turakhia has been very busy, after co-founding Directi in 1998 with his brother, Divyank Turakhia, the two exited the business in 2014 in a $160 million transaction with Endurance (now Newfold Digital). Turakhia then went on to start Radix, a leading new gTLD registry; Titan, a next-gen email suite for the small business customers of web hosts and domain registrars; and Zeta, the emerging leader in modern banking for customers around the world.

Zeta today announced that it has secured a $250 million investment from SoftBank Vision Fund 2. The Series C investment is the largest single investment ever made in a banking tech startup and now values Zeta at $1.45 billion.

“Most banks are using decades-old software built at a time when Mainframes and Cobol were in vogue. As a result, they have been slow to innovate and provide poor user experiences,” said Turakhia, CEO at Zeta. “With Zeta, financial institutions can now leverage a modern, cloud-native platform and improve speed to market, agility, cost to income ratio, and user experience.”

Among its customers, Zeta counts over 10 banks and 25 fintechs across eight companies, including Sodexo, a leading issuer of employee benefits and rewards that touts over 30 million global users; Standard Chartered Bank; and HDFC Bank, the 14th largest bank in the world by market cap.

Titan Integrated Email

Building successful businesses through deep partnerships is nothing new for Turakhia. With Titan, for example, Turakhia is providing an Integrated Email experience for the customers of web hosts and registrars, that is significantly superior to Google or Microsoft.

Titan enables web hosts and registrars to provide their customers with a world-class email product that touts the following key benefits:

  • A 2x increase in revenue generated from email
  • An increase in NPS
  • Lower support costs and a high sender-IP reputation
  • A 5% lower churn rate on hosting and domain customers

“Whether its banks with Zeta or web hosts with Titan, I’ve found that building relationships with partners who have a high commitment towards creating the best experiences for customers has the largest positive outcomes for our businesses,” said Turakhia. “I believe this investment round validates our partner-first philosophy.”

You can view the full press releases on the funding on Zeta’s website

Source link

About DomainObserver

Check Also

Radix H1 2022 Premium Domain Report

Radix (an advertiser here) released their H1 2022 Premium Domains Report. $3.8M in retail premium revenue …