Bhavin Turakhia's fintech venture Zeta invests in ZingHR

BANGALORE, INDIA: Bhavin Turakhia-backed digitised employee benefits solutions provider, Zeta has picked up a minority stake in ZingHR, a cloud services provider, for an undisclosed amount. Existing investor Triton also invested.

ZingHR is an emerging player in the enterprise cloud applications space, providing end-to-end employee lifecycle management services. The company works on various cutting-edge technologies including machine learning in recruitment, embedded Power BI based HR analytics, geo-fencing, geo-tagging, and Aadhar-based digital onboarding.

With funding from Zeta, ZingHR will now further expand its business and build its technology.

The company will also now offer its clients Zeta’s digital employee benefits solutions such as meal vouchers, paperless claims for medical, LTA, fuel, mobile and so on. ZingHR currently has over 600,000 employee records processed across 400+ customers across India, Middle-East and Singapore, which includes names like Svatantra Finance, DHL, Shree Ram Housing Finance and Sterling Resorts.

Commenting on the ZingHR investment, Bhavin Turakhia, CEO & Co-founder, Zeta said, “We see a lot synergies with ZingHR to further expand the reach of digitised solutions across the globe.”

Zeta has got an increasing clientele, presently comprising 1000 corporate clients and over 3.5 lakh users. Zeta users can spend their benefits across 11 lakh+ outlets via the Zeta app, the Zeta Super Card, a Mastercard/ RuPay powered card or the NFC-enabled Zeta Super Tag. The company’s key objective is to help salaried professionals save beyond Rs 80k in taxes.

Prasad Rajappan, Founder & CEO, ZingHR said,“We believe that, with Zeta, we can achieve significant business transformations with cloud-based HR processes effectively. We are confident that together, we will empower businesses across geographies and acquire more customers.”