Ziina
Ziina is an award-winning financial platform for consumers and entrepreneurs in the UAE who need a fast and secure way to spend, receive, and grow their money.
Founded in 2021 and known for its speed, simplicity, and intuitive design, Ziina is on a mission to bring financial freedom to every person in the Middle East. The platform simplifies transactions for businesses and individuals alike by offering instant money transfers, customizable payment links, QR code payments, and a fast and secure payment gateway.
Ziina’s user-friendly interface, quick setup, and commitment to transparency—free of subscriptions, initiation fees, or hidden charges—make it the preferred financial partner for individuals and businesses across the region.
Ziina enables businesses to accept payments through various channels, including websites, retail locations, in-person transactions, and social media. For individuals, Ziina offers the ability to send and receive money using debit and credit cards, as well as Apple Pay and Google Pay. Key features of Ziina’s platform include a payment gateway for website checkouts, payment links, QR code payments, and NFC payments. The company has raised over US$ 30 million in total funding and continues to innovate in the digital payments space, providing solutions that meet the evolving needs of its users.
In December 2024, the JIMCO Technology Fund took part in the US$ 22 million Series A funding round alongside global investors, aligned with JIMCO’s dedication to promoting greater financial inclusivity across the Gulf region. JIMCO previously participated in the Pre-Series A funding round.
The new funding will support Ziina’s expansion from a payment solution to offering comprehensive financial services for both businesses and consumers. This includes the upcoming launch of “ZiiCard,” which will enable businesses to manage their expenditures and provide individuals with features such as expense categorization and payment splitting.
Ziina has rapidly evolved from a peer-to-peer (P2P) payment app to a comprehensive financial platform serving both retail and business customers.
The company has achieved significant growth, reaching 50,000 active users and becoming one of the first venture-backed startups to be granted the UAE Central Bank’s Stored Value Facility (SVF) license. It has experienced approximately 34% month-over-month growth in customers and about ten-fold increase in revenues over the past year. This license allows Ziina to offer a broader range of financial solutions, further solidifying its position in the market.
Ziina is a fast, secure way to send and receive money in the UAE, either business to business or directly with friends. Licensed by the Central Bank of the UAE, Ziina helps move money forward; the company is on a mission to bring financial freedom to every person in the Middle East. Ziina believes access isn’t a privilege — it’s a right.
Faisal Toukan
Faisal Toukan co-founded Ziina with his sister Sarah in 2021, with the mission to enhance financial lives by making transactions simple, secure, and social. In Arabic, “Ziina” translates to “ornament” or “thing of beauty.” Ziina is the UAE’s first peer-to-peer payment app, allowing users to send and receive payments with just a phone number —no IBAN or swift code required. The app provides a seamless way for friends and family to split the cost of takeout or a grocery bill.
JIMCO Technology Fund caught up with Faisal at their office in Dubai International Finance District to learn more about the technology driving this Middle East fintech business and how the team plans to create an empowering financial experience for everyone.
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