Ziina raises $850,000 to launch P2P payment

Ziina, the UAE’s first licensed social peerto-peer (P2P) payment application, has raised a pre-seed round of $850,000, led by San Francisco based Class 5 Global with participation from Samih Toukan’s Jabbar Internet Group, and other prominent angel investors.

The application will help the UAE bank account holders to use their smartphones to send and receive money as easily as sending a text message. Ziina is on a mission to simplify payments for everyone. Users can send and receive money with just a phone number — no IBAN or swift code required.