Egyptian fintech startup Zeal has raised $4 million in a funding round led by Raed Ventures and Cur8 Capital, among others. Zeal offers payment solutions to retailers and offline businesses to improve customer engagement and brand loyalty. Its SmartPOS Plugin technology allows credit card machines to identify and retarget customers in-store. The company plans to use the funding to expand into the wider MENA market and develop advanced data and analytics solutions for the FMCG and telecom sectors.
Zeal recently expanded to the UK and is now looking to increase its footprint in the wider MENA market. The funding will support the company’s growth and enable it to enhance its existing payment acquirers portfolio and integrate with POS terminals globally. Zeal also plans to build advanced data and analytics solutions for the FMCG and telecom sectors.
Founder Omar Ebeid commented, “This investment will accelerate our journey towards utilizing AI to revolutionize 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.”
Raed Ventures’ Wael Nafee expressed his excitement about backing Zeal, saying, “We believe that Zeal’s holistic product is a key innovative solution to payment service providers and POS manufacturers globally.”
