zenda, a Bengaluru, India- and Dubai, UAE-based fintech app for families, secured a $9.4M in seed funding.
Backers included STV, COTU, Global Founders Capital, and VentureSouq.
The funds will be used for product development and market expansion in India.
Founded in June 2021 by Raman Thiagarajan and Haseeb Ahmed, alumni of McKinsey & Company, zenda is a fintech app for families. It enables families to pay school fees with pay-now and pay-later options, unlocking rewards for paying on time. zenda integrates with schools through its proprietary data model and APIs (much like zapier) and eliminates last mile reconciliation challenges and delays.
After its initial launch in UAE, the company initiated India entry and operations in Q3 2021, 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, operating out of Bangalore, Kochi, Delhi and Dubai.