UAE’s FinTech startup Zenda raises $9.4m in a Seed round

UAE’s FinTech startup Zenda raises $9.4m in a Seed round

Zenda, FinTech startup for families raised $9.4m in a seed round. Zenda currently addresses pain points around the payment of school fees.

Using Zenda, families can track dues and make payments through a multitude of pay-now and pay-later options, and unlock rewards for paying on time. Zenda integrates with schools through its proprietary data model and APIs and eliminates last mile reconciliation challenges and delays.

“Since our launch, feedback from the market and especially from our users has been terrific, we are grateful & pumped with the response from parents and seeing how they have embraced our service. zenda schools are witnessing a systematic increase in their collections. We have a truly outstanding team and I feel privileged that such a passionate group is with us on this journey. We are excited and hopeful for the possibilities ahead – in providing customer-centric digital financial services to solve some of the simple yet important problems for families in our regions,” CEO and founder of Zenda, Raman Thiagarajan said.

Zenda’s mission is to help families thrive and it aims to make it easier for families to manage money and to enable their financial wellness through tailored banking and financial experiences.

“Raman, Haseeb and the team have identified a compelling gap in the market and in supporting families on a topic that is very important to them. Seeing their strong traction over the past several months, we couldn’t be more excited about zenda. The UAE itself is a $8+ billion market for private education fees and they are already well poised to capture leadership. They have built an outstanding team and we look forward to working with them in helping zenda achieve its mission,”  Ihsan Jawad, General Partner at STV, said.

Read more: UAE’s Millennial Brands raises $35m in a Growth round

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