Neobank Zeller raises AU$100M series B at AU$1B valuation - Kalkine Media

March 03, 2022 01:35 PM AEDT | By Aditi Saha
Follow us on Google News:

Highlights

  • Australian payments service Zeller is now a member of the ‘Unicorn Club’ after having raised AU$100 million.
  • After the fundraise, Zeller is valued at AU$1 billion.
  • A ‘Unicorn’ in business, is a privately owned startup firm valued more than AU$1 billion.
  • Hostplus, an Australian industry superannuation fund, and Headline, a US-based venture capital fund, led Zeller's Series B round of funding.

Zeller, an Australian payments service, has become a ‘Unicorn Club’ member after an AU$100 million fundraising round that increased its worth to more than AU$1 billion. A ‘Unicorn’, in business is a privately owned startup firm, valued at more than AU$1 billion.

Aileen Lee, the founder of Cowboy Ventures, first coined the term 'Unicorn'. 

Hostplus, an Australian industry superannuation fund, and Headline, a US-based venture capital fund, led Zeller's Series B round of funding. Also, previous investors Spark Capital, Addition and Square Peg also took part in Series B. Since June 2020, the firm has secured more than AU$181 million.

Zeller offers Australian business owners a financial services solution and a fully integrated payments system, comprising Mastercard, a next-generation EFTPOS terminal and a business transaction account, all in one kit, which is accessible on the internet and at Officeworks stores across the nation.

Also read: 5 Unicorn IPOs To Watch Out In 2020

Zeller's future initiatives

The firm states, going forward, it will focus more on building its fully integrated financial operating system for business owners, which has just been open for eight months and has drawn over 10,000 Australian corporate clients.

To satisfy the demands of its fast-growing customer base, the new capital will be utilised to stimulate the growth of Zeller's new product range, which will further replace and reinvent commercial banking services and traditional payments.

Also watch: Can social media influencers promote therapeutic goods in Australia?

More payment options 

Zeller declared the impending rollout of omnichannel commerce capabilities, which would allow retailers to receive Zeller payments online. When sending invoices or selling items online, business owners may utilise Zeller payment processing and then use Zeller Dashboard to analyse payments data and track sales.

According to the firm, over 80% of customers moved from traditional banks to Zeller. The vast majority opt to utilise the combined Zeller Account and Card as their principal business banking facility.

Do read: Crypto companies that have become unicorns in 2021

Management remark

Zeller CEO and co-founder, Ben Pfisterer, stated

Also read: World’s Richest Man’s firm backs Pilot, the newest Unicorn


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.



Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK