UAE-based Zbooni has closed its latest funding round of $1.1 million led by the Chalhoub Group and B&Y Venture Partners. It will use the funding to continue to grow its business.
Founded in 2017, Zbooni helps merchants conduct transactions with customers via preferred social media and chat services such WhatsApp, Instagram and Facebook.
“Business is increasingly done through WhatsApp and social media services such as Instagram and Facebook. These channels are the modern equivalent of shop windows that showcase a merchant’s products and services to the world, but consumers want to engage before they transact,” said Ramy Assaf, chief executive officer at Zbooni.
“We see strong demand from businesses in the UAE for this service, with the transaction volumes consistently growing at above 30% month-on-month,” he added.