# Zoona Transactions International

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zoona-transactions-international

- Industry: Financial Services
- Headquarters: Lusaka, Zambia
- Website: www.ilovezoona.com
- Total disclosed funding: $18M
- Latest round: Series B (Aug 17, 2016)
- Investors on record: 6

## About

Zoona Transactions International Limited, based in Zambia, specializes in financial services that enhance financial inclusion through innovative solutions like cash services and digital payments.Zoona Transactions International Limited is a Zambian company founded in 2009 and headquartered in Lusaka. It operates in the financial services sector, offering a range of solutions to improve accessibility to financial systems. The company has successfully completed 7 deals, with its most recent deal on November 18, 2022. The latest funding round raised USD 3.00 mn from RippleWorks, bringing the total amount raised to USD 3.00 mn. The firm was founded by Zoona Zoona, though no additional history on the founder is available.Zoona provides a comprehensive suite of financial services aimed at promoting financial inclusion in Southern Africa. Key offerings include agent services like cash deposits and withdrawals, international money transfers, and the Z CODE service, which facilitates essential financial transactions without hidden fees. These services cater to individuals, small businesses, and organizations, enabling transactions across over 150 countries through partnerships with remittance providers such as Mukuru, World Remit, and Remitly. Additionally, Zoona’s business solutions under the Tilt brand offer secure payment processing and efficient transaction management for various sectors.Revenue at Zoona is primarily generated through transaction fees for services such as cash deposits, withdrawals, and remittances. Customers pay for services directly at Zoona outlets, while the Tilt brand facilitates bulk payments and collections for clients, including NGOs and private sector entities. The pricing model varies based on transaction amounts, ensuring tailored solutions for personal and business clients. Key products, like the Tilt Platform and the Z CODE service, are essential to the company's revenue generation strategy, promoting a seamless transaction experience.Following the acquisition by Critical Ideas, Inc. in November 2022, Zoona aims to expand its payment solutions and enhance its market presence across Africa. The company is focusing on developing new products and targeting specific markets for expansion, although detailed timelines and new product specifications are not disclosed. The recent funding will be utilized to support these growth initiatives, thereby broadening their reach and improving service offerings in the region.

## Funding rounds

- Series B, Aug 17, 2016, $15M — International Finance Corporation, Lundin Foundation, Omidyar Network, 4Di Capital, Quona Capital
- Series A, Feb 29, 2012, $3.2M — Accion, Omidyar Network

## Investors

- Accion (https://capitalatlas.ai/funds/accion) — Series A
- Omidyar Network (https://capitalatlas.ai/funds/omidyar-network) — Series A, Series B
- International Finance Corporation — Series B
- Lundin Foundation — Series B
- 4Di Capital (https://capitalatlas.ai/funds/4di-capital) — Series B
- Quona Capital (https://capitalatlas.ai/funds/quona-capital) — Series B