- Merchant payment platform company Zepto announced recently that it raised $25 million in Series A funding. These are the details.
Merchant payment platform company Zepto recently announced it raised $25 million in Series A funding led by AirTree Ventures and Decade Partners.
This funding round represents a tactical investment for backing the next generation of payments innovation, which is transforming the way Australian businesses and consumers transact. And this funding round will be used for driving domestic growth, supporting international expansion, driving domestic growth, supporting international expansion, and enhancing its payment infrastructure including investment into building more functions on top of the NPP’s PayTo framework, according to Entrepreneur.
Since January 2020, Zepto experienced over 100% growth in headcount year-on-year, growing the team to nearly 100 employees in March 2022. And the company is on track to double this again by the end of the year.
KEY QUOTES:
“We are excited to partner with AirTree Ventures and Decade Partners on our first external funding round. Innovation across the real-time payments and open finance landscape is enabling merchants globally to create a new paradigm when it comes to customer experience. We at Zepto remain committed to delivering our merchants market-leading API tools to access and compose seamless payment experiences. From our roots as a bootstrapped Byron Bay upstart, Zepto has grown to become a market leader in the payments industry. We intend to use this capital to grow our team and technology in a meaningful, empowering way as we meet the demands of an ever-evolving domestic market, as well as accelerate Zepto’s expansion into international markets.”
— Chris Jewell, CEO of Zepto
“The global payments landscape is in the middle of its biggest upheaval in decades, as open banking and real-time, bank-to-bank payments are transforming how we pay and get paid. With open banking and the NPP, Australia has found itself at the center of this disruption – and Zepto is the leading innovator in this space.”
— James Cameron, partner at AirTree Ventures
