Zoho
“Can Zoho convert its 80M-user SaaS ecosystem into an all-in-one business operating system by embedding payments, banking, lending, and spend management directly into its existing apps?”
Founded in 1996 as a network management software company, Zoho pivoted in the mid-2000s to become a broad-based cloud SaaS suite targeting SMBs and mid-market companies. Over the following decade it built 80+ applications spanning CRM, accounting, HR, and collaboration. Beginning around 2024, Zoho began embedding financial products directly into its software ecosystem — launching Zoho Payments (acquiring), Zoho BillPay (AP automation), and Zoho Connected Banking — transforming from a pure SaaS vendor into a horizontal SaaS platform with embedded finance rails.