UAE-Based mostly Fintech Ziina Heads to Jordan

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Ziina, the UAE peer-to-peer fee app, is increasing to Jordan as a part of the corporate’s mission to drive monetary freedom within the Center East.

The corporate’s co-founders, siblings Faisal and Sarah Toukan, clarify that Ziina’s first worldwide foray represents a ‘homecoming’ as each grew up in Jordan’s capital metropolis Amman earlier than heading to the US for increased schooling.

Their choice to maneuver into Jordan earlier than some other Center Jap nation got here out of their need to uplift and strengthen their house nation by increasing entry to monetary providers.

Faisal Toukan, CEO and Co-Founding father of Ziina says: “The median age in Jordan is round 23 years-old, which makes a lot of the inhabitants digitally native. The Central Financial institution of Jordan has recognised this, naming microfinance, digital monetary providers, and small and medium-sized enterprise finance amongst its core sectoral pillars.

“As a proud Jordanian, I’m delighted to introduce Ziina to my house nation. Our crew have labored tirelessly to develop a product that makes the fee course of infinitely sooner and extra handy, whereas additionally prioritising a pleasant consumer expertise. We’ve little doubt that Ziina will make getting paid a lot simpler for each single Jordanian.”

Backing for Ziina

In the beginning of final yr, Ziina acquired Y Combinator’s backing and raised a $9million seed spherical from outstanding traders, together with Avenir Progress, Goodwater Capital, ANIM, Oman Know-how Fund, Class 5 International, Lengthy Journey Ventures, Graph Ventures, Jabbar Web Group, Wamda, and FJ Labs. Different backers additionally embody staff and execs at PayPal, Instagram, Stripe, Revolut, Venmo, Brex, Checkout.com, Notion, Block, Airbnb and Deel.

Ziina, which lets UAE residents ship and obtain funds with only a telephone quantity, says it’s targeted on growing state-of-the-art instruments which can be “pleasant to make use of, empowering people to achieve extra management of their monetary future”.

 

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