India-based fintech startup Zeta has bolstered its presence in in the South East Asian (ASEAN) region by launching its services in Philippines and Vietnam markets.
The company launched its technology platform-as-a-service (PaaS) in the two countries and also signed Sodexo as its first client.
Go deeper with GlobalData
Sodexo’s employee benefits and rewards programmes will now be powered by Zeta’s platform.
This will allow Sodexo to roll out digital and customisable solutions on Zeta’s platform for its employees and business clients in the Philippines and Vietnam.
The Bangalore-based startup is the first fintech firm in the country to foray into international markets.
Speaking on the international debut, Zeta co-founder and CEO Bhavin Turakhia said: “After building our benefits solution in India, we realise there is huge potential for our platform in markets outside India as well.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“We already have a strong relationship with Sodexo, and we are happy to provide our services to Sodexo in other countries as well.”
Zeta VP of global benefits business Nikhil Mangal added: “By 2025, digital payments in ASEAN will exceed $1trn in gross transaction value and the digital financial services will generate annual revenue of $38bn.
“This presents a huge opportunity for us to grow our business and to demonstrate our technological capabilities.”
Founded in 2015, Zeta provides a full-stack, cloud-native, API first neo-banking platform including a digital core and a payment engine for issuance of credit, debit and prepaid products.
Zeta customer base includes nearly 15,000 corporate clients and two million active users. Its joint venture with Sodexo named BRS India sells multi-benefit solutions to corporates.
Recently, the startup launched the products Tachyon, Fusion and Cipher after foraying into the banking business.
