‘Silk Road’ B2C Shopping App ZoodMall Uses Series A to Expand to More Countries in the MENA

B2C cross-border e-commerce market marketplace app, ZoodMall, has just closed a $10 million Series A fundraising round, which it will use to expand to more countries in the Middle East market. Currently operating in Lebanon, Iraq, Kazakhstan and Azerbaijan, the app will now expand the range of its Middle East market to include Jordan, Bahrain, Kuwait and Saudi Arabia. ZoodMall will also be using the funds to boost its current “Buy Now Pay Later” (BNPL) FinTech model.

Right now, ZoodMall boasts over four million products from Asia ranging from accessories, mobile phones, beauty, home, garden products, and more from more than 30,000 sellers. For many of its new Middle Eastern markets, this will be the first time consumers can buy directly from Asian manufacturers.

ZoodMall’s flexible BNPL solution, dubbed ZoodPay, means that online shoppers can opt to pay for their purchases over the span of up to two months, with no interest. “Our marketplace shopping app brings a unique value proposition by offering a one-stop experience on cross-border and local products with our own ‘Buy Now Pay Later’ solution,” Michael Khoi CEO of ZoodPay was quoted saying, “ZoodPay customers can purchase online from more than 30,000 sellers and four million products with three easy installment plans of 0, 30 or 60 days to settle without incurring interest charges.”

The app is currently available on the App Store and Google Play.