FinTech Zeal secures $4m funding to expand its technology solutions

By Delisha Fernandes

Zeal, an Egypt-based FinTech and customer loyalty app, has raised $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 innovative technology solutions across the EMEA region, following its recent expansion into the UK market.

Omar Ebeid, the Founder and CEO of Zeal, said, “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.”

Central to Zeal’s product offering is the SmartPOS Plugin, redefining the very essence of in-store customer engagement and payment intelligence. Their revolutionary technology enables credit card machines to identify, segment, and retarget in-store customers, transforming 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  entities like Ingenico and Network International. 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 & analytics solutions for FMCGs and Telecom sectors.

Wael Nafee, General Partner at RAED Ventures, said, “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.”