3 years ago

ZoodPay Raises $38 Million in Series B Funding Led by Sturgeon Capital and Zain Ventures

  • ZoodPay, a Switzerland-based Buy Now Pay Later (BNPL) Super App, has raised $38 million in its Series B funding round

  • The round was led by Sturgeon Capital and Zain Ventures, with participation from other strategic global investors

  • ZoodPay has over 8 million users and ten offices across the Middle East and Central Asia

  • The company offers two products: ZoodPay BNPL, a 4-installments plan with 0% interest, and ZoodPay Credit, an extended BNPL product (up to 12 months) with interest in certain markets

  • ZoodPay's BNPL is available through multiple distribution channels, including its own marketplace, ZoodMall, with 7 million products, as well as thousands of online and offline shops in its core geographies

  • The company's ecosystem includes ZoodMall, ZoodShip, and a logistics system that empowers merchants in the Middle East, Central Asia, China, Europe, Russia, and Turkey to open their storefronts to local, low-penetrated, and fast-growing markets without additional set-up costs or fees

  • ZoodPay will utilize the Series B funding to accelerate its growth and expansion across the Middle East and Central Asia, stimulating local and cross-border e-commerce transactions through its marketplace (ZoodMall) and ‘Buy Now Pay Later’ solutions.

      • ProblemFinancial Services

      "Many people in the Middle East and Central Asia lack access to traditional financial services, making it difficult for them to make large purchases or manage their finances."

      Solution

      "ZoodPay offers a 'Buy Now Pay Later' (BNPL) solution that allows users to make purchases in installments with 0% interest. This makes it easier for people to access goods and services that they might not otherwise be able to afford."

      Covered on