Australian enterprise banking startup Zeller has hit a A$1 billion valuation due to a A$100 million Collection B funding spherical led by Headline.
Hostplus, Sq. Peg, Addition, and Spark Capital joined the spherical for Zeller, which was based by former Visa exec and Sq. Apac chief Ben Pfisterer and his colleague at Jack Dorsey’s agency, Dominic Yap.
Zeller is bidding to tackle Australia’s massive 4 banks with a platform that features a next-generation Eftpos terminal, a fee-free enterprise transaction account, and free enterprise Mastercard, multi function field.
The agency has signed up greater than 10,000 companies inside its first eight months, with over 80% switching from an incumbent supplier – serving to it to double its valuation.
Zeller is now getting ready to start the deployment of recent monetary providers for companies together with on-line fee acceptance, next-generation banking capabilities, enhanced credit score and debit playing cards, expense administration, lending and extra.
Says Pfisterer: “We wish Zeller to be on the centre of a enterprise’ monetary ecosystem, enabling them to have a whole view of each buyer interplay and the general well being of their enterprise.”