Background: Zeller is a fintech company that aims to be a one-stop shop for business' banking needs. It was founded by the ex-head of Block/Square in Australia back in 2020.

What happened: It was already cashed up thanks to a few funding rounds over the years, but now it's just raised $100 million...setting the record for the fastest time a local company hit a $1 billion valuation.

What else: Zeller plans to expand its offering to online payment acceptance tools, credit cards...and eventually, it wants to be a fully-licensed bank. The CEO says he is building ten fintech startups in one. That's a whole lotta bundling.

🔔 What's the key learning?

💡When a company develops its product strategy, it can generally run down two distinct paths.

💡We've got:

• Unbundling - where companies take one offering and provide it as a standalone product - often at a better price, or better quality.
• Bundling - where companies combine multiple products and services within the one offering, like Zeller is doing.

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💡The pendulum swings between bundling and unbundling products over time. In the financial services space, we've recently seen the Big 4 banks unbundle their services because of all this. But Zeller and its investors are going the other way.

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