Zenda India expansion adds Dh 34.5 million in a seed round
April 25, 2022
The software currently tackles issues with school fee payment, specifically the lack of convenience and flexibility in payment alternatives for parents and poor payment collection for schools.
Families can use Zenda India expansion to track dues and make payments using a variety of pay-now and pay-later options, as well as earn prizes for paying on time.
Families can use Zenda to track dues and make payments using a variety of pay-now and pay-later options, as well as earn prizes for paying on time.
Zenda, a finance app for families in the UAE and the Mena region, has received an oversubscribed seed round of $9.4 million (Dh34.5 million) and is now gaining more and more traction because of Zenda India expansion.
The software currently tackles issues with school fee payment, specifically the lack of convenience and flexibility in payment alternatives for parents and poor payment collection for schools.
Families can use Zenda to track dues and make payments using a variety of pay-now and pay-later options, as well as earn prizes for paying on time. Zenda integrates with schools using its own data model and APIs (similar to zapier) to reduce last-mile reconciliation issues and delays.
The market is huge but mostly untapped, with roughly $37 billion in fee payments to private educational institutions processed annually in the GCC, $34 billion in the remainder of the Middle East and Africa, and $70 billion in India.
Fee payments in schools (nursery-K12-tertiary) are largely non-digital, and even when they are, they are inconvenient, manual, and costly. Furthermore, while the majority of families earn monthly, school fees are frequently paid termly or bi-annually, causing cash flow issues for parents and collecting delays for schools.
“In today’s digital age, we desire low friction and immediate gratification; why should fee payments be any different?” Parts of the economy still rely on cash or checks, with no easy way to pay later. “Feedback from the market, particularly from our users, has been fantastic since our launch,” stated Raman Thiagarajan, CEO and creator of Zenda.
Zenda India expansion has had a lot of success with schools and families. Since June 2021, its user base has grown 20-fold, with annual contracted total payment volume exceeding $100 million in the UAE and India by Q4 2021.
