Zeller launches financial solution for tech startup founders

Australian fintech company Zeller has launched an all-in-one financial solution specifically tailored for technology startup founders, named Zeller for Startups, aiming to address the needs of a significant segment previously underserved by traditional banks.

A recent Zeller survey found that 85% of Australian startup founders feel unsupported by traditional banks, citing slow and cumbersome onboarding processes and outdated financial products as major impediments to their growth and operations. The survey also highlighted that effective financial management, alongside banking services, stands as the second biggest operational challenge for founders, just behind fundraising.

"Australia has built a thriving startup ecosystem, yet our banks still treat founders as risks rather than opportunities. Banks force businesses into outdated processes that don't match how tech startups actually operate. That approach is no longer sustainable," stated Ben Pfisterer, Zeller CEO and co-founder.

Traditional banking systems have long posed challenges to Australian startups, with many forced to rely on multiple platforms and services to manage their financial affairs. According to Zeller's research, startups typically use five separate, disconnected platforms to manage finance-related activities, which compounds complexities and inefficiencies.

Zeller for Startups offers a suite of financial tools from one online account, designed to minimise the need for multiple providers and improve financial oversight. These tools include business accounts with digital onboarding that enable account setup in 60% fewer clicks compared to traditional banks, unlimited digital or physical debit card issuance, and high-interest savings accounts with an ongoing rate of 3.2% per annum.

Zeller also provides purpose-built expense management, giving founders real-time visibility over spendings, and offers exclusive benefits, such as discounts on startup software and technology services, including Employment Hero, Xero, and Pop Business.

The fintech's CEO highlights the disconnect between current banking offerings and the modern operational needs of startups: "Everything about how companies operate has changed, but the banks have not. For decades Aussie founders have been forced into a banking system that simply wasn't built for them; slow account onboarding, outdated risk assessments, and financial products that deliver limited oversight. The reality is, banks have become a roadblock for founders because they can't deliver what startups need to manage the finances, spending and expenses in one place," Pfisterer commented.

Zeller for Startups is set to become available soon, with an invitation to founders to join a waitlist for early access, which includes a sign-up bonus incentive. This development marks Zeller's expansion from servicing over 85,000 small and medium-sized enterprises (SMEs) to now including technology businesses as a key focus area.