The UAE based fintech and edtech company Zenda has expanded into Saudi Arabia with a focus on delivering localised digital payment solutions tailored for schools and families. Saudi Arabia’s rapid progress in digital financial inclusion continues to attract regional and international companies eager to contribute to one of the world’s fastest growing fintech markets.
A Strong Foundation for Digital Advancement
Saudi Arabia’s progress is supported by a robust digital infrastructure, ongoing improvements in connectivity and widespread 5G deployment. These advances are enabling IT and fintech companies to establish and scale operations in the Kingdom. As of the end of Q2 2024, Saudi Arabia is home to 224 fintech companies, reflecting the strength and ambition of the sector.
The Kingdom’s fintech landscape is also experiencing significant venture capital activity. In 2024, Saudi Arabia recorded 16 fintech related deals, making up 18 per cent of all regional VC activity. Saudi based firms collectively secured SAR 905 million, equal to 241 million US dollars, in disclosed investments, marking another milestone in the country’s innovation journey.
Fintech Growth Aligned with Vision 2030
These developments are closely aligned with Vision 2030, which prioritises financial innovation across multiple sectors. With strong policy backing, streamlined regulations and a business friendly environment, Saudi Arabia has become a strategic market for global and regional companies. Establishing a presence in the Kingdom is now seen as a critical expansion step for emerging and established players, including Zenda.
A standout in the global fintech sphere, Zenda specialises in digital education payments. The company has partnered with AstroLabs, the Gulf’s leading market expansion platform, to bring its solutions to Saudi Arabia and help modernise the way schools and families manage financial transactions.
A Saudi Focused Strategy Anchored in Localisation
Founded in 2021 by Haseeb Ahmed and Raman Thiagarajan, Zenda has grown rapidly within the UAE fintech ecosystem and currently holds a 30 per cent market share among schools and families. The company was recognised as a Future 100 firm by the UAE Ministry of Economy, highlighting its role in driving innovation and supporting national competitiveness.
Zenda is now scaling its presence in Saudi Arabia with a strong emphasis on localisation to meet regulatory requirements and customer needs.
Haseeb Ahmed, Zenda’s co founder said,
“Leveraging our proven model for education payments, we’re ready to make strong progress in Saudi Arabia. With the government’s emphasis on advancing education, we see a valuable opportunity to support the Kingdom’s digital transformation by offering flexible, tech-driven payment solutions for schools and families.”
AstroLabs played an essential role in facilitating Zenda’s market entry by offering regulatory guidance, operational support and insights into Saudi Arabia’s business landscape.
Accelerating Fintech and Edtech Convergence in Saudi Arabia
Saudi Arabia’s transformation under Vision 2030 provides an ideal environment for Zenda’s expansion. By integrating fintech solutions within the education sector, Zenda aims to modernise school payment processes and address longstanding gaps in digital infrastructure.
Ahmed explained that the pandemic highlighted the need for accelerated digital transformation within education. He said,
“While other sectors have advanced rapidly, education still holds vast potential for modernisation. The government’s commitment to enhancing education quality reflects its recognition of the sector’s vital role in national development.”
The Saudi education sector is expanding in line with economic reforms and Saudisation goals that support the development of a highly skilled workforce. The Kingdom’s K to 12 education market is projected to increase from 4 billion US dollars in 2017 to 15 billion US dollars by 2030.
Supporting the Future of Saudi Digital Education
Zenda’s decision to enter the Saudi market aligns with the country’s strong growth potential, the objectives of Vision 2030 and the national strategy to digitise educational systems. As demand rises for flexible and efficient digital payment solutions, Zenda is positioning itself as a key enabler within the Kingdom’s broader fintech ecosystem.
With its rapid regional expansion, Zenda is set to play a crucial role in supporting Saudi Arabia’s transition toward a cashless economy, deepening financial inclusion and contributing to a more innovative and digitally focused education sector.
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