Ziina began as a P2P bill-splitting app and has expanded into a two-segment platform: Ziina Personal and Ziina Business, offering payment links, a payment gateway, POS QR-code payments, social payments and basic CRM. The company supports Apple Pay, Google Pay, Mastercard and Visa, and integrates its gateway with platforms like WooCommerce and Shopify. Ziina charges straightforward fees (2.6%+1 AED for payment links and POS; 2.9%+1 AED for gateway transactions) and provides a dashboard for reconciliation. It reports 50,000 active retail and business users, 34% month-over-month customer growth over the last year, and revenues that have increased ten-fold year-over-year; transaction volume is on track to ~1.1 billion AED (~$300M) annualized. Growth has been largely product-led (about 55% organic acquisition) though the company is beginning to hire a sales team. With a Central Bank of the UAE stored value facility license, Ziina plans to expand financial services (including an upcoming ZiiCard and expense-management features) and to earn float on stored customer balances. Ziina operates a peer-to-peer payments wallet that lets users send and receive money using just a phone number, avoiding IBANs or SWIFT codes common in the UAE. The company is in the process of obtaining regulation and has a banking partner among the three largest banks in the UAE. Ziina launched a restricted beta and reports thousands of users who transacted more than $120,000 in the past month, plus over 20,000 people on a waiting list. The team includes alumni from Apple, Uber, Coinbase, Revolut, Stripe and others, and the founders intend to use growth capital to hire, acquire customers, and build commercial partnerships. Product roadmap includes expanding P2P payments across MENA and adding products such as remittances, investment and cryptocurrency services. The company plans geographic expansion into Saudi Arabia and Jordan in 2022, with Egypt and Tunisia targeted further out.

Total raised

$30M

Funding rounds

2

Latest round

Series A

Latest activity

Sep 2024