Dubai-based fintech startup Ziina has successfully raised $22 million in a Series A funding round led by Altos Ventures to enhance its digital payment platform aimed at small and medium-sized enterprises (SMEs) in the UAE. Originally launched as a peer-to-peer payment app, Ziina has shifted its focus to meet the growing demands of SMEs, which constitute nearly 95% of businesses in the UAE. The company has reported a tenfold increase in annual revenue and a 34% month-over-month growth in its customer base, now serving 50,000 users. New features, including a payment gateway integrated with popular e-commerce platforms and the upcoming ZiiCard for managing payments, are in development. This funding round reflects strong investor confidence in Ziina's potential, especially given its recent acquisition of a central bank license and the ongoing digital transformation in the MENA region. The investment will be utilized to expand services and further develop its product offerings, positioning Ziina as a key player in the region's fintech landscape.