Other Deals
Fintech app for school fees Zenda raises $9.4 M
Dubai- and India-based zenda, which offers education fees focused fintech services, has raised a USD 9.4 million in a seed round from STV, COTU, Global Founders Capital and VentureSouq. zenda currently addresses pain points around the payment of school fees - in particular, the lack of convenience and flexibility in payment options for parents and the poor collection of payments for schools. The funds will be used for product development and market expansion in India. Using zenda, families can track dues and make payments through a multitude of pay-now and pay-later options, and unlock rewards for paying on time. zenda integrates with schools through its proprietary data model and APIs and eliminates last mile reconciliation challenges and delays. zenda was founded in June 2021 by Raman Thiagarajan and Haseeb Ahmed, alumni of McKinsey & Company, where Raman led the Firm's Financial Services Practice in the MENA region. After its initial launch in UAE, zenda initiated India entry and operations in Q3 2021; zenda witnessed strong market traction with schools and with families. It has grown its user base 20X since June 2021 and crossed the $100M+ in annual contracted TPV volume by Q4 2021, across both markets. With more than 40 team members now, and 2/3rds in India, the team has scaled rapidly, operating out of Bangalore, Kochi, Delhi and Dubai.
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