Ben Pfisterer's fintech, Zeller, eyes off banking for startups

Zeller cofounder Ben Pfisterer knows better than most what it’s like to deal with banks.

The fintech’s CEO, who’s spent his career in payments, including six years building Square in Australia for Jack Dorsey, went on to build a banking alternative that became a unicorn (valued at more than $1 billion) in just two years because he knew the major banks were neglecting the business community.

Having built Zeller to 85,000 SME customers in less than five years, he’s now turning his attention to the startup sector to give founders what they want and need, launching Zeller for Startups.

Banking is second on the founder woe list behind funding, and Pfisterer says traditional banking has failed Australia’s 90,000+ strong startup ecosystem

“Everything about how companies operate has changed, but the banks have not.,” he said.

“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Aussie founders have been forced into a banking system that simply wasn’t built for them; slow account onboarding, outdated risk assessments, and financial products that deliver limited oversight.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 argues that while Australia’s startup ecosystem is thriving, the banks still treat founders as risks rather than opportunities.

“That’s exactly why we built Zeller for Startups — to give tech founders a first-of-its-kind solution combining the financial products they need to launch confidently, scale smarter, and reach their full potential,” he said

“Banks force businesses into outdated processes that don’t match how tech startups actually operate. That approach is no longer sustainable.

“With our own experience launching five years ago, we quickly built and began using our own products to manage all of Zeller’s finances. We’ve optimised and tailored these products to deliver Zeller for Startups, enabling those founders who are where Zeller was years ago with an all-in-one financial solution designed to help them scale and succeed.”

Research by Zeller found that startups have, in general, relied upon five disconnected platforms, on top of a business bank, to manage their finances, so Pfisterer set out to build an all-in-one suite of financial tools founders can use from one online account

Zeller for Startups will go live in the coming weeks. For more, join the waitlist here.