Zeta raises $250m from SoftBank

Banking tech start-up Zeta has announced a $250 million investment from SoftBank Vision Fund 2.

The new funding values the UK company at $1.45 billion.

Zeta, which has a presence in the UK, North America, LATAM, Europe, and Asia, said that this represents one of the largest single investments in a banking FinTech globally.

“Most banks are using decades old software built at a time when Mainframes and Cobol were in vogue,” said Bhavin Turakhia, chief executive, Zeta. “They have been slow to innovate and provide poor user experiences.

Turakhia added: "With Zeta, banks can leverage a modern, cloud native platform and improve speed to market, agility, cost to income ratio and user experience.”

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