With an aim to accelerate the transformation of the payments landscape, Zepto, an Australian financial technology startup, announced today that it has secured $25 million in Series A funding. AirTree Ventures and Decade Partners have invested to facilitate Zapto’s international expansion.
With the latest investment, Zepto is planning to increase its headcount. Zepto’s CEO, Chris Jewell mentioned that the funding will help the fintech company address the demands of an ever-evolving domestic market. According to the company, it is now facilitating over $4 billion in payment volume each month.
“We are excited to partner with AirTree Ventures and Decade Partners on our first external funding round . From our roots as a bootstrapped Byron Bay upstart, Zepto has grown to become a market leader in the payments industry. We intend to use this capital to grow our team and technology in a meaningful and empowering way,” Jewell said.
Australia is one of the fastest-growing fintech markets in the world. Emerging technologies like crypto have also gained traction in the region during the past few years. Earlier this month, ANZ carried out an Australia dollar stable coin payment.
Payments
With the growing popularity of digital tools, the demand for innovative payments technology has increased substantially in Australia during the past few years. James Cameron, Partner at Airtree Ventures, said that a secure and fast payment payments network is necessary for the growth of digital payments in the global financial ecosystem.
“The global payments landscape is in the middle of its biggest upheaval in decades, as open banking and real-time, bank-to-bank payments are transforming how we pay and get paid. With open banking and the NPP, Australia has found itself at the center of this disruption, and Zepto is the leading innovator in this space. We believe Chris and the Zepto team are part of the next generation of fintech pioneers,” Cameron said.
