Australian real-time account-to-account merchant payments platform Zepto has raised A$25 million in a Series A funding investment by AirTree Ventures and Decade Partners.
Founded in 2018 as Split Payments, Zepto is now used by hundreds of Australian businesses and is on track to process more than A$50 billion in 2022.
In late 2021, it became both the first non-bank fintech approved to connect directly to the New Payments Platform as a ‘Connected Institution’, and the first non-bank payments provider Accredited Data Recipient under the ACCC’s Consumer Data Right.
The company will use the new funding to make an international push, starting with New Zealand.
Chris Jewell, CEO, Zepto, says: "Innovation across the real-time payments and open finance landscape is enabling merchants globally to create a new paradigm when it comes to customer experience.
"We at Zepto remain committed to delivering our merchants market-leading API tools to access and compose seamless payment experiences."