Zenda gets $9.4m in seed funding; plans expansion into Africa.
Zenda, a Dubai based fintech app for school fees, has secured $9.4 million in a seed funding round.
established in 2021, Zenda is an app that is alluring an satisfying to parents and educational providers. it enables families to track dues and make payments by pay-now and pay-later options, and unlock rewards for paying on time. The platform integrates with schools by its API to eliminate reconciliation challenges and delays.
The company claims to have received strong market traction with schools and families. It says its user base has grown 20x since June 2021 and that its annual quantity crossed $100 million by Q4 2021, across the UAE and India.
“Part of the fee payment ecosystem nevertheless runs on cash or cheque with no functional option to pay later,” says CEO and founder Raman Thiagarajan. “Zenda schools are witnessing a methodic increase in their collection
The business hopes to expand into Africa by Egypt with its new investment. there are also hopes to have an impact in the educational sector by changing by changing the way parents and guardian pay school fees and bills. Zenda also plans to make Africa its next growth frontier after implementing expansion in Egypt. its third market after India in the next months as part of a growth excursion spurred by a $9.4 million seed capital.
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