Ziina said to collect $7.5m in seed round

Ziina, a Dubai-based mobile wallet, has reportedly has collected $7.5m in seed round of funding.

The round was led by Avenir Growth and Class 5 Global, with commitments also coming from Wamda Capital, FJ Labs, Graph Ventures, Goodwater Capital, Jabbar Internet Group, Oman Technology Fund’s Jasoor Ventures and ANIM, according to a report from TechCrunch.

Also contributing to the round were the Checkout CEO Guillaume Pousaz, BukuKas CEO Krishnan Menon and executives from PayPal and Venmo.

The company, which was founded by Faisal Toukan, Sarah Toukan and Andrew Gold, enables consumers to send and receive payments with just a phone number.

The company has helped thousands of users to transact a total of $120,000 on its platform in the past month. It also has more than 20,000 users on its waiting list, the article said.

The company has raised a total of $8.6m in funding since it launched in 2020. Its previous investments include a $850,000 pre-seed in May 2020.

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