ZunguZ is a technology platform that merges traditional banking features with your social networks. You can pay, receive or transfer money with your contacts on any social network using credit card, PayPal or many other payment methods.

ZunguZ is essentially a multi-tiered platform that has deep integration into the social graph and a host of financial services. Social graph confirms the relationship between contacts in order to simplify money transfer.

ZunguZ’s peer-to-peer payment system allows a Facebook user to pay another Facebook user without transaction fees, without a bank account or an email address.

ZunguZ was created by two South African entrepreneurs-Rob Sussman and Lance Fanaroff, founders of Integr8 – one of the largest privately owned ICT Companies in Africa.

ZunguZ is backed by VCs in Silicon Valley including Justin Rockefeller, Mack Levitt and currently has offices in Palo Alto.