Zeta launches new digital solutions

Fintech startup Zeta, part of Directi Group, on Thursday launched three new solutions – Fuel & Travel, Communications, and Books & Periodicals, as part of its employee tax benefits product portfolio.

Including these three digital solutions, Zeta, which was founded in April 2015, offers eight solutions.

Speaking about the startup, Zeta CEO and co-founder Bhavin Turakhia said, “There are five crore employees in India, of which, 2.7 crore people are paying taxes. Our solutions help working professionals increase their take-home salaries by utilising tax-complaint benefits. If you take medical reimbursements, only 20-30 lakh employees use this benefit, and this may be due to storage problem, and paper work, among others.”

Salaried person

“Corporates can easily rollout Zeta’s employee-friendly solutions through which a salaried person can increase his/her take-home salary by Rs 80,000 per annum,” said Zeta CTO and co-founder Ramki Gaddipati.

So far, 300 corporates have implemented Zeta’s solutions, and the founders said that two new corporates are being added everyday.

“We have seen good growth in the past few months and Zeta will see an investment to the tune of $25 million in the current and next financial year that will be used for scaling up the business,” Turakhia said.

Zeta, which has 300 employees, serves 35,000 users at present, and it aims to reach one million users by April next year.