BNPL Fintech Startup: zenda raises $9.4 Mn via VentureSouq, Others
- ByStartupStory | April 25, 2022
zenda, the buy now pay later (BNPL) fintech startup has raised about $9.4 Mn in an oversubscribed seed funding round. COTU, STV, Global Founders Capital, and VentureSouq also participated in the round.
For product development and to expand footprint in India, the fresh capital will be used.
zenda founded in June 2021 by Raman Thiagarajan and Haseeb Ahmed, helps families pay school fees and other expenses through its BNPL offering. To assist families in managing money and enable their financial wellness through tailored banking and financial experiences has been aimed by the startup.
The second startup of the founders duo–Raman Thiagarajan and Haseeb Ahmed is zenda. The startup’s operations in India began in Q3 2021 and partnership with over 1000 academic institutions in the country to date has been claimed by it.
zenda claims that in annual contracted total payment volume (TPV) in India, it has crossed over $100 Mn and abroad by Q4 2021. While the headcount of its team has gone over 40, it further asserts that its user base has grown to 20X.
zenda is competing with big players such as Simpl, Lazypay, ePayLater, Flipkart, PhonePe, Paytm, Zestmoney, and Amazon India, in the Indian BNPL segment.
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