What's Hot

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023

    Wafeq raises USD 3 million in seed round

    January 26, 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

      KarmSolar receives USD 3 million to develop Farafra Solar Grid

      January 11, 2023

      AD Ports Group reports strong growth

      January 3, 2023

      Hyosung Heavy Industries to start construction on South African energy storage project

      December 12, 2022
    • 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

      Gold-for-oil: Ghana attempts to address forex pressures

      January 18, 2023

      AD Ports Group reports strong growth

      January 3, 2023

      “Made in Libya” to promote economy and trade

      December 30, 2022
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      Social investment platform InvestSky raises USD 3.4 million

      Business Entrepreneurship Finance January 12, 2023
      Recent

      Social investment platform InvestSky raises USD 3.4 million

      January 12, 2023

      African startups face challenges in 2023

      January 10, 2023

      MENA startups raised USD 125 million in December

      January 6, 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 Innovation Startups

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023
    Business Entrepreneurship

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023
    Business Entrepreneurship

    Wafeq raises USD 3 million in seed round

    January 26, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    LATEST STORIES

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023

    Wafeq raises USD 3 million in seed round

    January 26, 2023

    African startups double debt financing

    January 25, 2023

    Matbakhi raises USD 2.3 million in pre-Seed round

    January 24, 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.