Sodexo Buys Out an Indian FinTech Focusing on Invisible Payments

This FinTech was founded in 2015 and features white-label payment solutions for banks and corporates through a Cloud-based platform.
Offer:
- authentication,
- card issuing and processing (prepaid, debit, credit; purchasing, virtual and private-label cards),
- wallets, QR codes and other digital solutions,
- employees-focused incentive solutions,
- digital services for corporate cafeterias (cashless corporate restaurant).
Clients:
- 3 international banks and financial institutions (including Sodexo),
- Several indian banks,
- 14,000 companies (including Amazon),
- 2 million beneficiaries (1 million transactions processed each day).
The exact amount of Sodexo’s investment hasn’t been released but would not exceed $60 million. Zeta could now be valued at $300 million.
Sodexo’s BSR unit (Benefits &Rewards Services) completed this investment, even if this operation covers the entire group. Several BSR subsidiaries in South America and in Asia have already adopted Zeta’s platform.

Zeta’s promise: improving employees’ experience through making payments invisible. Sodexo intends to meet this goal to further speed up their digital transformation.
Sodexo also plans to craft new services based on Zeta, as they implement cashless corporate restaurants, as well. This move is reminiscent of BBVA’s focus on making their employees’ meal payments invisible.
Helping Zeta grow international. This FinTech is active in Asia and South America. Strengthening their partnership with Sodexo could allow them to roll out their solutions in other regions, especially in Europe, in the US and in Southeast Asia. Their goal: attract 25 million users in 20 countries by 2021.

Zeta and Sodexo joined forces in 2017. Sodexo claims 3 million customers for their meal voucher card and corporate cafeterias in India. These transactions are already processed through Zeta’s platform.
This announcement stands out as Sodexo’s first investment in a FinTech, but it isn’t the first time they team up with a start-up. They joined forces with Klaxit in 2018 and started issuing mobility-dedicated vouchers a few weeks ago. Sodexo also bought out FoodChéri in 2018.

Category : Alertes quotidiennes