Zeal, an Egypt-based fintech and customer loyalty app, has closed a $4 million funding round led by Raed Ventures and Cur8 Capital, along with strategic angel investors.
This capital injection is aimed at expanding Zeal’s technology solutions across the EMEA region, following its recent expansion into the UK market.
Central to Zeal’s product offering is the SmartPOS Plugin which tackles in-store customer engagement and payment intelligence by enabling credit card machines to identify, segment, and retarget in-store customers. Through this, the company is aiming to transform the way physical retailers engage with and retain their clientele.
The fintech startup has already made significant progress in the payments industry by partnering with leading entities like Ingenico and Network International and earning awards such as the Visa Everywhere Initiative. This funding will further Zeal’s reach and impact, enhancing their existing payment acquirers portfolio and ease of integrating with POS terminals globally. The management team also shared their plans to build advanced data and analytics solutions for FMCGs and Telecom sectors.
Speaking on the future, Founder and CEO Omar Ebeid said: “This investment will accelerate our journey towards utilising AI to revolutionise retail customer engagement on a global scale. We are committed to broadening our impact, with a focus on connecting billions of customers with millions of retailers.”
Wael Nafee from Raed Ventures added, “We’re very excited to back Omar and the team at Zeal with an Egypt & MENA-based team building a global first product offering. The global payment acquiring space is hungering for value-added service disruptors that can propel the next phase of innovation. We believe that Zeal’s holistic product is a key innovative solution to payment service providers and POS manufacturers globally.”
