Zenda has raised $9.4 million in an oversubscribed seed round with participation from STV, COTU, Global Founders Capital, and VentureSouq. The startup currently inscribes pain points around the payment of school fees, the lack of convenience and flexibility in payment options for parents, and the poor collection of payments for schools.
The funds will be used for product development and market expansion in India.
Using Zenda, families can track dues and make payments through a horde of pay-now and pay-later options, and unlock rewards for paying on time. The startup integrates with schools through its exclusive data model and APIs and eliminates last-mile rectification challenges and delays.