Aussie FinTech Zeller becomes unicorn following $100m Series B

Australian financial and payments solution Zeller has closed a Series B on $100m, driving its valuation above $1bn.

The round was headed by Headline with additional funds combined from Hostplus, Square Peg, Spark Capital and Addition. The latest round means Zeller joins an ever growing unicorn club in the FinTech space.

Zeller provides business owners in Australia with a fully integrated payments and financial services solution, such as a EFTPOS terminal, business transaction account and Mastercard all within one kit available online and in select stories nationally.

Zeller remarked that it signed up over 10,000 Australian banks over the past eight months since its launch last year.

According to Zeller, it will invest the funds from this round to launch a range of new payments and business banking capabilities to cater for the needs of its rapidly growing customer base.

The company will speed-up development of new financial services solutions that will give merchants the ability to manage more of their business from their Zeller account.

Zeller also revealed it is soon to launch omnichannel commerce capabilities, which will enable merchants to accept payments online with Zeller. Businesses will be able to use Zeller payment processing when selling products or sending invoices online and then track sales and analyse all payments data across every sales channel from the Zeller dashboard.

Zeller CEO and co-founder Ben Pfisterer said, “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 re-establish themselves following the pandemic. 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.

“With the accelerated displacement of cash, we have seen in-person card payments experience unprecedented growth. Yet over 9 million Australians transacted online last financial year, so it’s critical that businesses can accept payments wherever their customers are. Delivering the tools to accept payments and get a complete view of their business, be it in-store or online, is our first step into seamless omni-channel commerce. New integrations with industry-leading website and e-commerce platforms will give our customers a single view of their business and reduce the complexity of having to navigate numerous, disparate systems and providers.”

Pfisterer added that Zeller’s team set out to ‘reimagine business banking’ by delivering a two-sided finance services operating system.

He continued, “We’ve built new solutions from the ground up that redefine how merchants accept payments, manage finances, and spend their funds. Banking should no longer be purely transactional — it’s about connecting buyers with sellers and enabling merchants with a better understanding of how their customers, suppliers and employees interact with their business.

“This year we will deliver innovative financial services to further replace outdated business banking solutions — including next-generation banking capabilities, enhanced credit and debit cards, expense management, lending, and more. We want Zeller to be at the centre of a business’ financial ecosystem, enabling them to have a complete view of every customer interaction and the overall health of their business.”

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