Zbooni, UAE fintech, hits $200m milestone and targets triple-digit percentage growth

Zbooni, UAE fintech, hits $200m milestone and targets triple-digit percentage growth 

By: Abu Dhabi SME Hub
News

Zbooni provides online businesses and physical stores with a convenient way to capture more sales and better interact with customers.

Zbooni, a UAE-based cCommerce (connected commerce) startup, has crossed a significant milestone by processing more than $200 million in transactions since the launch of its platform in 2018, the company revealed in a press release. This comes at a time when Zbooni is scaling rapidly, having already grown GPV (gross payment volume) by 53% in the first half of 2022. Over the full calendar year, it is expected that Zbooni will achieve triple-digit percentage growth.  

To support the pace of expansion, Zbooni has been on a hiring drive. The team has doubled in size so far this year, with new hires across a range of business functions including product development, customer service, sales, marketing and operations. Zbooni received robust investment through a $9.5 million Series A round in September 2021, fueling geographic, technological and team expansion, underpinned by strategic expertise from US, European and GCC investors.

Commenting about Zbooni’s momentum in 2022, Co-founder and COO Ashraf Atia said, “Every area of the business is growing, from the number of retailers and merchants we are serving, to headcount in every regional office, and the roll-out of new products and services. We are lucky to have a highly talented team who all take real pride in delivering excellence and this is a strong reason why more and more businesses are choosing to partner with us.” 

The business operates across four core markets; United Arab Emirates, Saudi Arabia, Jordan and Egypt, and serves thousands of merchants. More than 600,000 customers have completed orders through Zbooni-powered merchants. 

Zbooni has evolved into a full cCommerce (connected commerce) platform, which provides online businesses and physical stores with a convenient way to capture more sales and better interact with customers. cCommerce takes place via social, chat and messaging apps like WhatsApp, providing physical stores and online brands with a way of turning real-time conversations into converted sales. Businesses can sell more by bringing the check-out experience to the channels that customers prefer and use every day.

cCommerce adds benefits for businesses beyond traditional ecommerce, driving sales conversion rates of more than 80%. This is significantly higher than e-commerce marketplaces which tend to convert under 3% of prospective sales. Because cCommerce connects merchants directly with the customer, returns and refunds average just 0.42% compared to a 30% return rate through e-commerce.

You might also like