Fintech start-up Zeta eyeing smaller towns with digitised solutions

Shobha Roy Kolkata | Updated on August 20, 2018 Published on August 20, 2018

Nikhil Mangal

Bengaluru-based fintech start-up Zeta, which offers digitised enterprise solutions for employee gifting, tax benefits and automated cafeterias, is looking to enter Tier-II and Tier-III towns.

According to Nikhil Mangal, vertical head, Zeta, plans are also afoot to increase the bouquet of offerings under corporate gifting and rewards and recognition (RnR) programmes targeted at the B2B (business-to-business) segment.

“We are currently present in 11 cities including Mumbai, New Delhi, Hyderabad, Bengaluru, Chennai, Pune, Kolkata, Nashik, Baroda, Kochi, and Ahmedabad. We want to capture Tier-II and Tier-III cities with our digitised solutions for offering all kinds of corporate reimbursement and RnR programmes,” Mangal told BusinessLine.

Hiring plan

The company will look to hire to expand its presence and add more clients in the smaller towns.

Zeta, which forayed into the business by offering digitised meal vouchers in early 2016, currently has a slew of offerings including various reimbursement programmes such as medical, communication, car maintenance, LTA (leave travel allowance) all built on the digital platform. The company has a total client base of 13,000 corporates, of which nearly 10,000 are small and medium enterprises.

“We have a user-base of around 1.4 million users and we have been doing close to 16 million transactions on an average every month, as compared to just about 2.4 million a month last year – a six fold increase. We expect to grow by over 25 per cent on an annual basis in the next three years,” he said.

Bouquet of offerings

Some of the companies that Zeta has a tie-up include the Tata Group, Shop Clues, Oyo Rooms and Motilal Oswal among others.

The company had recently launched ‘Zeta Spotlight’ — a suite of employee gifting and RnR solutions catering to all sorts of gifting needs of a corporate including seasonal gifting, long service awards and channel gifting among others.

According to him, corporate gifting has been steadily growing in the country and the proliferation of smartphones has helped digitise corporate gift cards that are more convenient and cost-effective in terms of logistics and vendor management.

“We have already added close to 1,600 corporates under our Spotlight programme and the user-base is close to 50,000. We have 85 brands across various spectrum, including Lifestyle, Big Bazaar, Amazon, Bookmyshow and Makemytrip on board,” he said.

The company also recently entered into a partnership with the meal voucher company Sodexo to provide its digital platform.

“We have a strong user-base of existing customers, we will look how to engage more deeply by enhancing our bouquet of offerings. Thereafter, we may also look at tapping the B2C (business-to-consumer) segment,” he said.

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Published on August 20, 2018
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