Egyptian Fintech Zeal Raises $4 Million for Global Expansion

Zeal, an Egyptian fintech startup, secures $4 million in funding led by Raed Ventures and Cur8 Capital. The investment aims to propel Zeal's technology expansion across Europe, the Middle East, and Africa. The company's payment app enables users to integrate payment methods with QR codes, streamlining in-store transactions and loyalty programs. Zeal, founded in 2019, offers vendors an AI-powered dashboard for real-time spending analytics and customer behavior predictions.

With a focus on customer loyalty, Zeal engages users through tailored offers and notifications, utilizing data analytics to improve purchase frequency. The funding will support Zeal's goal of enhancing global retail customer engagement using artificial intelligence, including the advancement of its SmartPOS Plugin. Co-founded by Omar Feid, Bellal Mohamed, and Amr Mohamed, Zeal entered the UK market less than a year ago.

SmartPOS Plugin, Zeal's flagship product, transforms how physical businesses interact with customers, allowing credit card processors to identify, classify, and reconnect with in-store patrons. The company's commitment to leveraging AI to bring together billions of customers and millions of retailers sets the stage for its global expansion.

Egyptian logistics company Bosta also secures additional capital to support growth objectives. Zeal, known for its successful partnerships and awards in the payments sector, previously concluded a seed fundraising round in December 2020 to fuel its growth initiatives.