Zenda, a Dubai based fintech app for school fees, has secured $9.4 million in a seed funding round.
Founded in 2021, Zenda is an app that is appealing an satisfying to parents and educational providers. it enables families to track dues and make payments through pay-now and pay-later options, and unlock rewards for paying on time. The platform integrates with schools through 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 volume crossed $100 million by Q4 2021, across the UAE and India.
“Part of the fee payment ecosystem still runs on cash or cheque with no convenient option to pay later,” says CEO and founder Raman Thiagarajan. “Zenda schools are witnessing a systematic increase in their collection
The business hopes to expand into Africa through 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 drive spurred by a $9.4 million seed capital.