Ziina latest news : Ziina, a rapidly growing UAE-based fintech, recently secured $22 million in Series A funding, reflecting robust investor confidence despite global economic headwinds. Since its 2021 launch, Ziina has expanded from a peer-to-peer payment platform into a comprehensive financial solution for small and medium-sized enterprises (SMEs) across the UAE. Today, it serves 50,000 users, offering both personal and business services.
The success of Ziina can be attributed to three key factors: the burgeoning SME sector in the UAE, its focus on product-led growth, and its recent acquisition of a Central Bank license. SMEs represent 94% of all UAE businesses and contribute 60% to the nation’s GDP, making them a crucial segment for financial services. Ziina’s platform helps these businesses streamline payments with integrated solutions like payment gateways, point-of-sale (POS) systems, and customer relationship management (CRM) tools. This comprehensive approach allows businesses to manage both in-person and online transactions seamlessly.
Ziina’s product-led growth has driven substantial revenue increases and user adoption, with a 34% month-over-month customer growth rate. Unlike many of its competitors, Ziina has achieved this success without a dedicated sales team, relying instead on organic referrals and word of mouth. The company is now processing AED 1.1 billion in annualized transaction volume, double from the previous year.
The recent funding will enable Ziina to further expand its suite of services, particularly following its receipt of the Stored Value Facility (SVF) license from the UAE Central Bank. This license positions Ziina to explore additional financial offerings, including expense management and the launch of its ZiiCard. With plans to capture 10-20% of the UAE’s SME market, Ziina aims to become the leading digital payments platform in the MENA region.
This milestone positions Ziina as a pivotal player in the UAE’s fintech landscape, poised for further expansion as SMEs increasingly adopt digital financial tools.
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