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Zeller doubles valuation to over $1 billion with $100 million raise
Following a highly successful launch year signing up over 10,000 Australian businesses within eight months, Zeller is doubling down on development of its fully integrated financial operating system for business owners after closing a $100 million funding round at a valuation north of $1 billion.
The Series B, which saw Zeller more than double its valuation, was led by US-based Headline, with additional funds contributed by Australian industry superannuation fund Hostplus. Previous investors, including Square Peg, Addition, and Spark Capital, returned to participate in the round. Zeller will invest funds to launch a range of revolutionary new payments and business banking capabilities to cater for the needs of it’s rapidly growing customer base.
“We’re excited to be entering Zeller’s next growth phase, as we rapidly expand our product range to offer businesses access to every financial services product they might need to thrive. Listening to feedback from over 10,000 businesses who joined Zeller in our first 8 months helps us to continually build new products that meet their evolving needs, as they reestablish themselves following the pandemic,” commented Ben Pfisterer, Zeller CEO and co-founder. “In collaboration with our growing Australian customer base, we hear that they want a single financial services solution that brings together every product they need to run and grow their business.”
“Zeller is well on its way to redefining how financial connectivity is delivered to Australian businesses, following in the footsteps of the tectonic shifts in the global B2B fintech ecosystem”, said King Goh, Principal at Headline. “Businesses of all sizes are now expecting their financial services to be provided via a best-in-class, consumerized experience given the rapid evolution in modern data availability and business needs. Zeller’s remarkable growth over the past eight months is a testament to how they are reimagining the traditional business banking industry. Ben and the team have built strong core products, and we are looking forward to working with them to grow and expand on this foundation.”
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The Paytech Magazine Issue #18
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