Zeta and Sodexo India merge corporate, meal benefit operations

BENGALURU: Fintech firm Zeta and Sodexo Benefits and Rewards Services (BRS) India, the domestic subsidiary of French meal benefits giant Sodexo, have merged their corporate and meal benefits operations into a single entity. Zeta was started in 2015 as a meal and corporate benefits company to take on traditional companies like Sodexo, Eden-Red and others.

While the two companies partnered for a technology play in May 2017, Zeta was still running its corporate benefits business as a separate entity and had a few thousand clients on its own.

Through the merger, Zeta will push this business into the Sodexo family for a minority share in the new entity, which will retain the Sodexo branding. The company will also get a board seat in the merged company. “Our offerings will retain the Sodexo branding, but our technology partnership will remain and the innovations required to cater to our customers better will continue to be done jointly,” said Anish Sarkar, CEO, Sodexo BRS India. Zeta has hived off its technology entity, which will operate as a separate unit based out of Bengaluru. Zeta had raised less than $60 million from Sodexo Global in a deal that was reported by ET in its July 24 edition.


“This deal with Sodexo has multiple aspects — one is Sodexo Global investing into Zeta Global, second is merging of Zeta’s meal benefits business into Sodexo India and partnering with other Sodexo entities in different countries to launch a similar technology platform there, like in India,” said Bhavin Turakhia, chief executive officer, Zeta.