UAE’s payment app Ziina raises $7.5m in new funding

UAE’s payment app Ziina raises $7.5m in new funding

A Dubai-based peer-to-peer (P2P) payment application that lets users split bills with friends raised $7.5 million through an early-stage funding round.

Ziina secured seed funding from a group of investors led by US-based Avenir Growth Capital and Class 5 Global, with participation from investors including Wamda Capital, FJ Labs, Graph Ventures, Goodwater Capital, Jabbar Internet Group and Jasoor Ventures, the venture capital arm of Oman Technology Fund.

The funding round, which closed last month, will help the company launch its wallet service and fuel its expansion into Saudi Arabia, it said in a statement on Monday. It will also look to hire new talent.