Ziina, the UAE-based YC-backed start-up with a mission to bring financial freedom to every person in the Middle East, is coming to Jordan. After launching their digital wallet in February 2022 and their proprietary payment keypad, the Ziboardjust this month, the Jordanian expansion is the latest step in a rapid succession of innovations for the fintech company.
For co-founders Faisal and Sarah Toukan, Ziina’s first international foray represents a kind of homecoming. The two founders grew up in Amman before pursuing their higher education in the United States. Their decision to settle in Jordan before any other country in the Middle East was born out of their desire to uplift and strengthen their home country by expanding access to financial services.
Faisal Toukan, CEO and co-founder of Ziina, said, “The median age in Jordan is around 23, which makes the majority of the population digitally native. The Central Bank of Jordan has recognized this, citing microfinance, digital financial services, and financing for small and medium enterprises among its key sector pillars. As a proud Jordanian, I am delighted to introduce Ziina to my home country. Our team has worked tirelessly to develop a product that makes the checkout process infinitely faster and more convenient, while prioritizing an enjoyable user experience. We have no doubt that Ziina will make payment much easier for every Jordanian.
Today, Ziina is one of the few companies in the MENA region to come to the Y-Combinator. The company successfully raised $9 million in a seed round from leading investors including Avenir Growth, Goodwater Capital, ANIM, Oman Technology Fund, Class 5 Global, Long Journey Ventures, Graph Ventures, Jabbar Internet Group, Wamda and FJ Labs, as well as employees and officers of PayPal, Instagram, Stripe, Revolut, Venmo, Brex, Checkout.com, Notion, Block, Airbnb and Deel.
Heralding a new era of digital consumer credit requires a strong team. The Jordanian siblings and their Californian co-founder Andrew Gold have recruited a world-class team with experience from Apple, Uber, Coinbase, Careem, Yandex, Funding Circle, Bain & Co, Talabat and Oracle.
A standout feature of Ziina’s product is its design, having been recognized and awarded with nine international UI/UX design awards, including the Red Dot Award. The interface allows users to easily send and receive payments to anyone with just a few clicks. Ziina eliminates the need for tedious IBAN and quick code entry and makes the payment experience seamless and social, with GIFs, photos, text and emojis.
Ziina believes access should not be a privilege but a right. The company is focused on developing cutting-edge tools that are fun to use, giving individuals more control over their financial future. Ziina believes that financial prosperity should be in the palm of your hand; he is pioneering the future of personal finance.
Peer-to-peer payment services are on the rise globally as they eliminate the need for making physical cash payments. For Ziina, Jordan represents the next exciting chapter in the company’s mission to financial freedom in the Middle East.
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