Dubai fintech Ziina raises $850,000 pre-seed, launches a social P2P payment app

Dubai fintech Ziina raises $850,000 pre-seed, launches a social P2P payment app

Dubai-based fintech Ziina has raised $850,000 in a pre-seed round and launched its social peer-to-peer (P2P) payment app, it announced in a statement to MENAbytes today.. Founded earlier this year by Faisal Toukan, Sarah Toukan, and Andrew Gold, Ziina's mobile app which the startup says is UAE's first licensed social P2P app, allows the bank account holders in the country to send and receive money with just a phone number (without the need for IBAN or swift code).. The Venmo-like app can be used by the bank account holders in the UAE by creating a Ziina account and linking their bank account to it.. Faisal Toukan, the co-founder and CEO of Ziina , commenting on the launch, said, "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.".