Ziina heralds new age of online payments with digital wallet for UAE


Faisal Toukan, CEO and co-founder, Ziina.
Faisal Toukan, CEO and co-founder, Ziina.

Ziina has recruited a world class team with experience from the likes of Apple, Uber, Coinbase, Careem, Yandex, Funding Circle, Bain & Co, Talabat and Oracle.


A Staff Reporter

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Published: Tue 8 Feb 2022, 11:22 PM

Last updated: Tue 8 Feb 2022, 11:25 PM

Ziina launches its digital wallet to make sending cash as easy as sending a text message. The Dubai-based, YC-backed start-up is on a mission to bring money online for consumers in the Middle East. Its mobile app, available now in the App Store and Google Play Store, is just the start.

The award-winning application allows users to easily send and receive payments to anyone in just a few taps. Ziina not only eliminates the need for tedious IBAN and swift code fields, but also makes the payment experience seamless and social, with GIFs, photos, text and emojis.

This innovation hasn’t gone unnoticed by investors, with VC and fintech veterans supporting the Dubai company with their wallets. To date, Ziina has raised $9.4 million from prominent investors including Avenir Growth, Goodwater Capital, ANIM, the Oman Tech Fund, Class 5 Global, Long Journey Ventures, Graph Ventures, Jabbar Internet Group, Wamda, and FJ Labs - as well as the early employees and execs at PayPal, Stripe, Revolut, Venmo, Brex, Checkout.com, Notion, Block, Airbnb and Deel.

Ziina now holds the Innovation Testing Licence in the Money Services category from the Dubai Financial Services Authority, opening the path to test new and innovative financial products, services, and business models as defined by the DFSA.

This licence enables Ziina to employ cutting edge technology and practices to deliver a safe and secure product that does not compromise user experience. Ziina is using its license to release its new app to a limited number of users as part of its initial release.

A standout feature of Ziina’s product release is its design, having been recognised and awarded nine international UI/UX design awards, including the Red Dot Award.

“Ziina’s new product, currently in beta mode, takes the pain of cash entirely out of the equation. Since its inception in 2020, we have made it our focus to design and build the most seamless way for individuals to send and receive money. It is a simple concept on the surface, but the product is a culmination of world-class technology and design. We are excited for our users to experience how magical the new application is,” said Faisal Toukan, CEO and co-founder of the app.

With the formation of the “Cashless Dubai Working Group”, Ziina is at the forefront of shifting transactions to a cashless environment. Euromonitor International reports that 60 per cent of all consumer payment transactions in the UAE were non-cash payments in 2019. They are set to reach 73 per cent by 2025 and Ziina’s two-click payment system is an enabling technology for this.

Heralding a new age of digital consumer finance requires a strong team. Ziina has recruited a world class team with experience from the likes of Apple, Uber, Coinbase, Careem, Yandex, Funding Circle, Bain & Co, Talabat and Oracle. It is assembling the capabilities, expertise and resources to have transformational impact on the region.

On a mission to bring financial freedom to all in the Middle East, Ziina believes access shouldn’t be a privilege but a right. The company is focused on developing state-of-the-art tools that are delightful to use, empowering individuals to gain more control of their financial future. Ziina believes this financial prosperity should be in the palm of your hand; it is pioneering the future of personal finance. — business@khaleejtimes.com

More news from