Dubai-based fintech startups Ziina raised a pre-seed investment of $850,000 and launched the UAE’s first official P2P payment application. The investment round was led by San Francisco based Class 5 Global, with participation from Samih Toukan’s Jabbar Internet Group and other angel investors.
Founded in November 2019 by co-founders Faisal Toukan, Sarah Toukan, and Andrew Gold, Ziina, is a payment application, available both on the Apple App Store and Google Play Store for download. Users can send and receive money with just a phone number, as no IBAN or swift code is required.
Users just add their bank account details to their profile and they’re ready to send or receive money instantly.They also claim to offer bank-grade security and end-to-end encryption.
“With several user-centric features, Ziina will redefine the way people in the Middle East think of, interact with and experience financial services. Our company is founded on the belief that everyone should have access to the next generation of financial services,” says Faisal Toukan, CEO and Co-founder.