This week at Soul Startup we have Zywa
Zywa is shaking the Fintech world of the Middle East and North Africa and in this newsletter, we are gonna cover it all.
Dear Enthusiasts,
I chose Zywa to be my First feature on the Soul Startup Newsletter as it was my very first startup experience. I had the privilege of learning and growing alongside this remarkable early-stage company. The memories I made at Zywa are treasured, and I'm excited to share why I believe they truly deserve the trust of investors and the love of customers.
The Extraordinary Founders: Alok Kumar and Nuha Hashem
Meet the dynamic duo behind Zywa's success: Alok Kumar, the Co-Founder and CEO, and Nuha Hashem, the Co-Founder and CTO. Alok's journey began with entrepreneurial experimentation, including his venture Leap, which paved the way for Zywa's rise. Prior to entrepreneurship, he honed his skills as a Consultant at Strategic Gears.
Meanwhile, Nuha's impressive educational background, encompassing electrical engineering and iOS development, underscores Zywa's excellence. Her pursuit of a Ph.D. in the United States took a detour when she decided to drop out and co-founded Zywa alongside Alok in 2021. Together, they've steered Zywa to remarkable success.
Idea
So you may ask, What is Zywa doing? What Problem are they solving?
Zywa is pioneering the future of banking for Gen Z in the Middle East and North Africa as the region's premier Neo bank. With Zywa, Gen Z can seamlessly handle their finances, from spending to receiving and money management, all without the hassle of cash. Plus, they unlock exciting rewards and stay socially connected with their friends. For parents, Zywa offers a secure platform to send money to their kids, ensuring they can spend it safely under parental guidance.
Now what makes Zywa so Successful? Zywa recognized a critical gap that had gone unnoticed for far too long and seized the opportunity. In a region where as per research, the GENZs annually spend a staggering $1 billion, many were still stuck with cash or their parent’s cards, missing out on supplementary card options. Zywa stepped in to meet this pressing need, capitalizing on the high spending habits of GENZs in the Middle East and North Africa. By offering enticing deals, rewards, and cashbacks, Zywa is leading the charge towards a cashless society, making financial transactions seamless. It empowers parents to send money to their kids while monitoring their spending, providing GENZs with invaluable lessons in money management.
In short, Zywa is bringing nothing short of a Cashless Revolution and Redefining spending of money for the GENZs in the Middle East and North Africa.
Funding and Valuation
Zywa's journey has garnered trust from an impressive roster of investors, with Y-Combinator at the helm. Alongside YC, Zywa boasts a total of 5 investors, including Rebel Fund, Dubai Future District Fund, and Goodwater Capital. In their most recent funding round, a remarkable $3 million USD was secured during the Seed Round, following a successful Pre-Seed round. Notably, the last round occurred on August 23, 2022, and Zywa's valuation has skyrocketed to a staggering $30 million USD, with an upward trajectory that shows no signs of slowing down.
Conclusion
The Cashless revolution is undeniable, and Zywa is leading the charge towards victory. With their ever-increasing popularity, user-friendly app, and innovative card, there's no stopping this remarkable team on their journey to unparalleled success in this revolution. Zywa isn't just for GENZ; it's powered by GENZ.
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