Ziina, a UAE-based fintech firm, has raised $7.5 million in its newest investment round, bringing the payment app’s total funding to more than $8.6 million.
Wamda Financing, FJ Labs, Graph Ventures, Goodwater Capital, Jabbar Internet Group, and Jasoor Ventures – an investing arm of Oman Technology Fund — participated in Ziina’s latest seed capital round, which was led by Avenir Growth Capital and Class 5 Global.
Zinal Growth, an investment fund founded by Checkout.com CEO Guillaume Pousaz, Bukukas CEO Krishnan Menon, Pawp CEO Marc Atiyeh, and executives from Paypal and Venmo were among the investors.
“In the future, we want Ziina to be the focal point of people’s finances, empowering them to take charge of their finances and providing them with new opportunities to develop their wealth,” Ziina CEO and Co-Founder Faisal Toukan stated.
The fintech business, which is sponsored by Y-Combinator (YC), wants to use the funds to deploy its wallet application, which currently has over 20,000 verified customers on the waiting list, as well as to hire “stellar hires” to help it expand regionally.