Ziina Raises $22 Million in Series A Funding to Expand Financial Services
Ziina, the UAE-based platform specializing in customer support solutions and financial services for businesses, has successfully raised $22 million in a Series A funding round led by U.S.-based Altos Ventures. The round also saw participation from several prominent investors, including Fintech Collective, FJ Labs, Avenir Growth, Y Combinator, and Jabbar Internet Group.
Ziina provides businesses with an integrated platform to support sales through multiple channels, including e-commerce, retail, in-person transactions, and social media. The platform also offers individuals instant money transfer services using a variety of methods, such as debit and credit cards, Apple Pay, and Google Pay.
This new funding aims to support Ziina’s expansion from a payments solutions platform to a comprehensive provider of integrated financial services for businesses and individuals.
Faisal Toukan, CEO and co-founder of Ziina, stated that the funding will enhance the platform’s capabilities in technological development and product innovation. He added that Ziina focuses on meeting the needs of small and medium-sized enterprises facing significant challenges, obtaining a new financial services license from the UAE Central Bank, and leveraging long-term partnerships with participating investors.
Toukan also mentioned that the funding will enable Ziina to recruit experts from leading global fintech companies like Revolut and Nubank, which have played a pivotal role in expanding their companies’ valuations to $45 billion and $70 billion, respectively. This funding supports Ziina’s vision of leading the fintech sector in the UAE and the wider Middle East region.
