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TLDR: Egyptian fintech startup Zeal raises $4m funding round
Egyptian fintech startup Zeal has raised $4 million in funding to expand its presence in the wider MENA market. Zeal offers payment solutions to retailers and offline businesses to enhance customer engagement and brand loyalty. Its SmartPOS Plugin technology allows credit card machines to identify and retarget in-store customers. The startup recently expanded to the UK and plans to use the funding to build advanced data and analytics solutions in the FMCG and telecom sectors.
Egyptian fintech startup Zeal has closed a $4 million funding round to help it increase its presence across the MENA market. Zeal, founded in 2019, offers payment solutions to retailers and other offline businesses to improve customer engagement and brand loyalty. The startup’s SmartPOS Plugin technology allows credit card machines to identify, segment, and retarget in-store customers. Zeal recently expanded to the UK, and now plans to increase its presence in the wider MENA market with the help of a $4 million seed round led by Raed Ventures and Cur8 Capital, along with strategic angel investors.
The funding will enable Zeal to enhance its existing payment acquirers portfolio and ease integration with POS terminals globally. The startup also plans to build advanced data and analytics solutions for the FMCG and telecom sectors. Founder Omar Ebeid said, “This investment will accelerate our journey towards utilizing AI to revolutionize retail customer engagement on a global scale.”
Zeal’s holistic product is seen as a key innovative solution for payment service providers and POS manufacturers globally, according to Wael Nafee from Raed Ventures. The funding round will allow Zeal to further its reach and impact, connecting billions of customers with millions of retailers.
Key Takeaways:
- Egyptian fintech startup Zeal has raised $4 million in funding to expand into the wider MENA market.
- Zeal offers payment solutions to retailers and offline businesses to enhance in-store customer engagement and brand loyalty.
- The startup’s SmartPOS Plugin technology allows credit card machines to identify, segment, and retarget in-store customers.
- The funding round was led by Raed Ventures and Cur8 Capital, along with strategic angel investors.
- Zeal plans to build advanced data and analytics solutions for the FMCG and telecom sectors.
