Zenda, Edutech startup has Secured $9.4 Million to Streamline school fees Payment

Zenda seeks to re-imagine school fees payment and management. The United Arab Emirates (UAE ) based startup has raised $9.4 million seed round funding. 

The startup company allows parents to pay fees directly to schools, all while streamlining collections by enabling schools to accept and manage payments online through its application (App). 

Through its technology, parents no longer need to provide bank deposit slips as proof of payment because all transactions are done on Zenda and they happen in real-time. 

The edutech startup also has an embedded financing option that extends tuition fee credit to parents on a flexible repayment structure. 

Zenda was founded last year around June by two entrepreneurs by Raman Thiagarajan and Haseeb Ahmed, who previously worked at McKinsey and held various positions in the company’s financial services division. 

“Fee payments in schools are mostly manual, and where it is digital, it is cumbersome, expensive and has a manual aspect to it,” said Thiagarajan.

“With all the knowledge we have from our previous venture, we understand the education sector. And so, we have a parent-facing app… we also deeply integrate into educational institutions to remove the friction for both the parents and the schools,” he adds. 

The company will use the money it raised to move and drive growth into the new emerging markets.  

Now the organisation is looking to expand and scale its operation into the African continent. They will enter Egypt as a gateway into the continent before moving into other countries in the region. 

“Most of the funding is going to be used in the area of market development and customer experience,” Thiagarajan said.

“Our mission is to help families thrive. We aim to make it easier for families to manage their money, and to enable their financial wellness. We see a need for family-centric products that are simple and collaborative.”

Please follow and like us:

Leave a Reply

Your email address will not be published.

Social Share Buttons and Icons powered by Ultimatelysocial