Zeller Expands into the UK, Tapping into Small Business Market
Australia-based fintech company Zeller has made its first international move, expanding its business banking platform into the UK. The move marks a significant milestone as the company aims to tap into one of the world’s largest and most dynamic small business economies.
According to a report by the UK Government, small and medium-sized enterprises (SMEs) contribute approximately ÂŁ2 trillion to the UK economy, representing 99% of all businesses.
Zeller has already appointed a UK country manager and is planning a strong physical presence in the region within the next three years. The company has been busy recruiting a local team ahead of the launch to support the rollout of its services.
The company’s UK team is expected to exceed 50 employees within the first 12 months, focusing on both customer service and localized product development.
With global partnerships in place with companies like Oracle, Xero, Tevalis, and Redcat, Zeller is poised to leverage these integrations to scale its offerings in the UK. The company’s ultimate goal is to create a global platform for small business banking. The collaboration with Oracle will integrate Zeller’s platform into a broader suite of enterprise resource planning (ERP) tools, enhancing its data capabilities for UK SMEs. Entering the UK market is a key step in achieving this vision.
Since launching in Australia in 2020, Zeller has made significant strides. The company has served over 100,000 businesses in its home country and has grown its workforce to 320 employees. Zeller achieved unicorn status in 2022, with a valuation surpassing USD 1 billion following a USD 100 million Series B funding round. The Series B round was led by high-profile investors such as Square Peg Capital and Tiger Global Management, boosting Zeller’s credibility in the fintech space.
In the UK, Zeller plans to offer the identical suite of services that has assisted Australian businesses thrive. These include payment answers, business accounts, cards, expense management, invoicing, and real-time financial reporting. Zeller aims to simplify banking for small and medium-sized enterprises (SMEs) in the UK, where over 50% still rely on multiple, disconnected financial tools to manage their operations.
A recent study by the British Business Bank found that 42% of SMEs in the UK struggle with cash flow management, further underscoring the market potential for Zeller’s all-in-one answer.
This expansion reflects both the maturity of Zeller’s platform and its confidence in the growing demand for accessible financial answers that can assist small businesses manage their cash flow more effectively. The UK market represents a major opportunity for Zeller to support local SMEs with a unified banking answer that meets their diverse needs and assists them grow.
Zeller’s entry into the UK also coincides with the UK Government’s commitment to improving access to financial services for SMEs, as outlined in its “Financing Growth” initiative, which aims to increase lending to small businesses by £3 billion by 2025.
