Zeta Picks up Stake in ZingHR

Source: NewsVoir | Published on 29th June 2017, 4:30 PM | NewsVoir |

Zeta, a fintech pioneer in digitised employee benefits solutions, has made a equity investment in ZingHR, a cloud services provider, for an undisclosed amount. ZingHR will also now offer its clients Zeta’s digital employee benefits solutions such as meal vouchers, paperless claims for medical, LTA, fuel, mobile and so on.

This investment will bolster equity infusion along with existing investors Triton. With funding from Zeta, ZingHR will now further expand its business and build its technology.

Commenting on the ZingHR investment, Bhavin Turakhia, CEO & Co-founder, Zeta said, “ZingHR is going through an interesting phase in the cloud-based market. Their growth journey has been quite impressive. Since Zeta’s inception, our product portfolio has grown exponentially and we’ve added 1000 corporate clients. We are excited about this phase as we see lot synergies with ZingHR to further expand the reach of digitised solutions across the globe.”
 

On this occasion, Mr. Prasad Rajappan, Founder & CEO, ZingHR said, “We are thrilled about this strategic partnership. We believe that, with Zeta, we can achieve significant business transformations with cloud-based HR processes effectively. We are confident that together, we will empower businesses across geographies and acquire more customers.”


ZingHR is a key player in the global enterprise cloud applications space, providing end-to-end employee lifecycle management services. The company works on various cutting-edge technologies including machine learning in recruitment, embedded Power BI based HR analytics, geo-fencing, geo-tagging and Aadhar-based digital onboarding. Some of ZingHR’s key clients include Svatantra Finance, DHL, Shree Ram Housing Finance and Sterling Resorts.

Zeta is a popular name in the space of digitised employee benefits in India, which recently reached a milestone of 1 Million transactions in the Indian market. Zeta boasts of an increasing clientele, presently comprising 1000 corporate clients and over 3.5 lakh users. Known for its flagship solution Zeta Optima suite of tax benefits, Zeta also offers Zeta Express cashless cafeteria solutions as well as the Zeta Spotlight rewards and recognition programme. Zeta users have the freedom to spend their benefits across 11 lakh+ outlets via the Zeta app, the Zeta Super Card, a Mastercard/ RuPay powered card or the NFC-enabled Zeta Super Tag. The company’s key objective is to help salaried professionals save beyond Rs 80k in taxes.


About Zeta
Zeta is a fintech start-up on a mission to digitise employee benefits, cafeteria solutions and rewards and recognition solutions. Zeta forayed into this journey by launching an innovative cloud-based smart benefits suite called Optima in January 2016. The Optima range includes smart benefits such as digitised meal vouchers, fuel and travel card, communications card, medical reimbursements, gadget card, gift card and LTA card.

Zeta's offerings also comprise Zeta Express, an innovative payment solution aimed at making corporate cafeterias cashless. This range includes the Zeta Super Tag, Zeta Kiosk, Express Remote Ordering and Zeta Super ID.

Launched in April 2015, Zeta has over 350 employees spread over 11 Indian cities: Mumbai, New Delhi, Hyderabad, Bangalore, Chennai, Pune, Kolkata, Nashik, Baroda, Kochi and Ahmedabad.  Our corporate clientele includes over 850 clients across industries ranging from large conglomerates to small start-ups. Zeta is ISO certified and PCI-DSS compliant.

Bhavin Turakhia (CEO) and Ramki Gaddipati (CTO) are the co-founders of Zeta.

To know more about Zeta, log on to www.zeta.in or follow @ZetaIndia on Twitter, Facebook and Linkedin.

About ZingHR

ZingHR is known for its disruptive innovations in the human capital management domain serving 6 lakh+ employees across BFSI, IT-ITES, retail, services, manufacturing, pharma, education industries. Its hire-to-retire modules encompass all facets of an employee life cycle right from hiring, onboarding, time & attendance, expense claims, payroll, compliance, performance management, and learning till separation. ZingHR currently has over 600,000 employee records processed across 400+ customers across India, Middle-East and Singapore.


With over 20+ cloud and mobile app modules, ZingHR helps achieve business outcomes in less than 3-4 months of implementation. The company’s investors include Accel Partners, Mumbai Angels and Triton. And, the company is gaining traction from other markets including South-East Asia, Europe and South Africa.

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