Buy now pay later (BNPL) fintech startup zenda raised $9.4 million in an oversubscribed seed funding round. The round saw participation from STV, COTU, Global Founders Capital, and VentureSouq, will use funds for product development and to expand footprint in India.
Founded in June 2021 by Raman Thiagarajan and Haseeb Ahmed, zenda helps families pay school fees and other expenses through its BNPL offering. The startup aims to assist families in managing money and enabling their financial wellness through tailored banking and financial experiences.
Zenda claims to have partnered with more than 1000 academic institutions in the country to date, crossed over $100 million in annual contracted total payment volume (TPV) in India and abroad by Q4 2021. It further asserts that its user base has grown to 20X while the headcount of its team has gone over 40.