How Zenda Is Driving Fintech Innovation in Saudi Education Sector

UAE-based Zenda, a leading edtech/fintech, has recently expanded into Saudi Arabia, offering localized digital payment solutions for schools and families.

Saudi’s progress in digital financial inclusion has been propelled by major innovations across both the public and private sectors, a surge powered by the growing adoption of digital payments and a strong appetite for improved digital financial experiences.

This progress is supported by a strong digital foundation, continuous advancements in connectivity, and the rapid deployment of 5G networks. Together, these factors attract IT companies—both regional and global—to set up a business in Saudi Arabia and benefit from one of the fastest-growing fintech markets in the world. Highlighting this progress is the fact that Saudi is now the host of 224 fintechs as of the end of Q2 2024.

Momentum in the sector is also reflected in record-breaking growth in venture capital activity and dealmaking. In 2024, Saudi Arabia’s fintech sector attracted 16 deals, collectively accounting for 18% of all VC activity. In terms of funding, Saudi-based companies secured SAR 905 million ($241 million) in disclosed investments across the region.

These developments don’t occur in isolation. Spurring financial innovation across sectors is one of the strategic objectives of Vision 2030. With robust policy support and a business-friendly environment, establishing a company in Saudi is viewed as a critical move for global companies, including zenda.

A standout in the global fintech sector, zenda, a UAE-based fintech specializing in the education sector, has recently expanded to Saudi Arabia in partnership with AstroLabs, the Gulf’s leading business expansion platform, to transform how educational payments are managed.

zenda’s Saudi-Focused Expansion Strategy is Centered Around Localization

Founded in 2021 by Haseeb Ahmed and Raman Thiagarajan, Zenda has quickly become a key player in the UAE’s fintech ecosystem, holding a 30% market share among schools and families. Last year, the company was recognized as a “Future 100” firm by the UAE Ministry of Economy—an honor celebrating emerging enterprises that contribute to national competitiveness.

Building on its regional success, Zenda is now ramping up its presence in Saudi with a focus on adapting offerings to meet local regulations and customer expectations.

“Leveraging our proven model for education payments, we’re ready to make strong progress in Saudi Arabia,” said Haseeb Ahmed, Zenda’s co-founder. “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.”

Playing an important role in streamlining the company’s entry into Saudi Arabia, AstroLabs provided market insights and operational support that helped Zenda navigate the regulatory and business landscape efficiently.

Accelerating Edtech-Fintech Innovation in Saudi Arabia

Saudi Arabia’s Vision 2030 transformation, with its strong focus on digitalization, provides fertile ground for Zenda’s expansion. With its growing footprint, zenda aims to address the education sector’s unmet digital needs, positioning itself as an early mover in integrating fintech into school payment systems.

Ahmed noted that the pandemic served as a turning point for digitization, exposing gaps in the education sector’s digital infrastructure.

“While other sectors have advanced rapidly, education still holds vast potential for modernization,” he said. “The government’s commitment to enhancing education quality reflects its recognition of the sector’s vital role in national development.”

Saudi Arabia’s education industry continues to expand in tandem with broader economic reforms and Saudization efforts to build a skilled workforce. The Kingdom’s K–12 education market is projected to grow from $4 billion in 2017 to $15 billion by 2030.

According to Zenda, the combination of strong market potential, alignment with Vision 2030, and the national drive toward digital education made Saudi Arabia the next logical step in its regional growth.

The fintech’s rapid expansion has created ripple effects across various industries, including education, where demand for flexible digital payments is rising. Zenda is poised to become a key enabler of Saudi Arabia’s fintech evolution—supporting the shift toward a cashless, knowledge-based economy and deepening financial inclusion across the Kingdom.