What's Hot

    FAB unveils first supply chain finance program in KSA, collaborating with Alfanar

    June 1, 2023

    IATF – Cairo Selected as the venue for the 3rd Intra-African Trade Fair

    May 31, 2023

    AeTrade Group promotes job creation and digital inclusion to boost Intra-African trade

    May 30, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      Dangote refinery set to be commissioned in two weeks

      May 8, 2023

      An Nisa Taxi a Kenyan women-only taxi service to expand to Saudi Arabia

      May 4, 2023

      AD Ports Group invests Dhs955m to bolster its fleet

      May 1, 2023
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      IATF – Cairo Selected as the venue for the 3rd Intra-African Trade Fair

      May 31, 2023

      AeTrade Group promotes job creation and digital inclusion to boost Intra-African trade

      May 30, 2023

      DP World and Standard Bank to expand trade finance solutions in Africa

      May 30, 2023
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      Riyadh Valley Company invests in STV’s Total Growth Platform

      Business Finance April 4, 2023
      Recent

      Riyadh Valley Company invests in STV’s Total Growth Platform

      April 4, 2023

      South Africa’s Fin acquires Thuthukani

      March 24, 2023

      Fintech dominates African startup funding

      February 15, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Entrepreneurship

    Zenda raises USD 9.4 million to help parents pay school fees

    April 26, 20222 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Zenda
    The USD 9.4 million in seed financing will help to refine the process and expand operations.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    UAE-based firm nexopay Technologies has raised USD 9.4 million in seed money for its app Zenda. The round featured investors from across the Middle East and beyond, including STV, COTU, VentureSouq and US-based Global Founders Capital. 

    Zenda was launched last year and allows families to pay school fees with pay-now and pay-later payment schemes. The app has an embedded financing option that extends tuition fee credit to parents on a flexible repayment structure, if the fees are paid on time, users can gain rewards. The app integrates with schools and helps to avoid payment delays and charges. All transactions take place in real time.

    The app is currently being used in Dubai and various cities in India. The seed money will be used to expand the business, primarily through Egypt and refine Zenda’s systems.

    Parent-facing

    “Over the past months in India we have built a pipeline of more than 1,000 institutions and are immensely grateful for their trust. Zenda schools are witnessing a systematic increase in their collections. We have a truly outstanding team and I feel privileged to have such a passionate group with us on this journey,” said co-founder Raman Thiagarajan.  “Fee payments in schools are mostly manual, and where it is digital, it is cumbersome, expensive and has a manual aspect to it,” said Thiagarajan, “And so, we have a parent-facing app… we also deeply integrate into educational institutions to remove the friction for both the parents and the schools.”

    Zenda’s rapid growth

    According to a statement, after its initial launch in UAE, Zenda began operations in Q3 2021 and has grown its user base 20 times since June 2021, crossing over USD 100 million in annual contracted total payment volume by Q4 2021 across the Indian and Emirati markets.

    The startup is eyeing greater growth this year as it accelerates its expansion beyond the UAE and India using the new funding, which will also support the refinement of its product.

    In the long term, the team hopes that Zenda will go beyond school fee payment and include other personal financial management tools.

    Edtech Egypt Fintech investment Startup UAE
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleAfDB’s 2022 annual meeting focuses on climate and energy
    Next Article Fitch fix Egypt’s economy at B+

    Related Posts

    Business Logistics Logistics

    FAB unveils first supply chain finance program in KSA, collaborating with Alfanar

    June 1, 2023
    Business & Trade Startups

    Cargoz secures bridge funding for expansion into KSA

    May 29, 2023
    Business Commodities Metals & minerals

    Copper 360 lists on JSE as Africa’s newest copper producer

    May 26, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    LATEST STORIES

    FAB unveils first supply chain finance program in KSA, collaborating with Alfanar

    June 1, 2023

    IATF – Cairo Selected as the venue for the 3rd Intra-African Trade Fair

    May 31, 2023

    AeTrade Group promotes job creation and digital inclusion to boost Intra-African trade

    May 30, 2023

    DP World and Standard Bank to expand trade finance solutions in Africa

    May 30, 2023

    Cargoz secures bridge funding for expansion into KSA

    May 29, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.