Zeta aims for global profitability by FY27 as international business grows

“This year will be a full year of profitability,” Gaddipati stated, highlighting the company’s progress after years spent building technology solutions and onboarding customers. Zeta currently generates over $100 million in annual revenue, with about 75-80 percent stemming from the United States and the remaining 20-25 percent from India. While the US market accounts for the majority of revenue, India remains strategically significant due to robust bank relationships, a strong deal pipeline, and promising growth prospects, according to the company.

Zeta’s business model involves lengthy sales and implementation cycles, with revenue accelerating only once the company’s solutions go live and banks begin scaling transactions and onboarding users. “As the fruits mature, you start getting the results,” said Sivaram Kowta, president of Zeta India. Gaddipati added that the company chooses to focus on large, end-to-end technology projects for banks, moving beyond small pilot runs to more comprehensive digital overhauls.

Last year, Zeta raised $50 million from US-based Optum, a subsidiary of UnitedHealth Group, at a $2 billion valuation, further strengthening its global expansion. Founded in 2015 by Bhavin Turakhia and Ramki Gaddipati, the company has been partnering with banks to deliver full-stack technology modernization. Its flagship customers in India include HDFC Bank, which leveraged Zeta’s platform to rebuild its PayZapp app and develop a new credit card issuance platform, deepening a relationship that had previously been limited to narrower projects with banks such as RBL Bank, Axis Bank, and IDFC First Bank.

Zeta’s platform is capable of powering a range of digital banking products including credit and debit cards, UPI payments, and mobile banking solutions. The company notes, however, that onboarding large new bank customers requires significant upfront investment in technology and human resources. “New customers bring in both a lot of revenue and a lot of work,” Gaddipati said.

Looking ahead, Zeta sees significant growth potential in emerging areas such as agentic commerce, where AI-powered agents could make payments and manage banking tasks on behalf of customers. Gaddipati noted that while much of the industry’s focus has been on merchant and payment networks, banks will require advanced systems for consent, authentication, and risk control as AI agents begin transacting with customer accounts. Additionally, the new Digital Personal Data Protection (DPDP) framework in India is seen as a driver for more sophisticated customer data management technology in the banking sector. Instead of acting as a standalone compliance solution, Zeta is integrating DPDP requirements directly into its product suite, ensuring all its offerings are compliant with data protection norms.

As its customers grow and scale, Zeta expects both its global and Indian businesses to benefit from the expanding reach of its platform and rising transaction volumes, positioning it for sustained profitability in the years ahead.