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News

MENA-based Zenda raises USD 9.4 mln for Pay Now, Pay Later proposition

Tuesday 26 April 2022 11:55 CET | News

MENA-based fintech app for school fees, Zenda, has raised USD 9.4 million in a seed funding round led by STV, COTU, Global Founders Capital, and VentureSouq. 

Zenda enables parents to pay school fees through Pay Now, Pay Later opportunities, and provides rewards for on-time payments, increasing literacy in India and promoting financial inclusion.

Founded in 2021, Zenda addresses the lack of flexibility and convenience in payments regarding school fees for people from financially challenged families, aiming to increase educational and financial inclusion across MENA. 

Through the startup, customers can track dues and make payments through a series of Pay Now, Pay Later options, as well as unlocking rewards for paying on time. Zenda integrates with schools using its proprietary data model and APIs, eliminating last mile reconciliation challenges and delays. Since its inception, Zenda crossed over USD 100 million in annual contracted TPV volume by the end of 2021, across India and MENA region. 

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Keywords: BNPL, financial inclusion, payments , recurring payments, API, funding, crowdfunding
Categories: Banking & Fintech
Companies: Zenda
Countries: India, Middle East
This article is part of category

Banking & Fintech

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Zenda

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