EGYPT – Zeal, an Egypt-based fintech and customer loyalty app, has closed a US$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.
Speaking on the future, Founder and CEO Omar Ebeid 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.”
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.
The SmartPOS Plugin is positioned as a game-changer, offering retailers the ability to interact with customers in a more personalized and efficient manner.
The technology not only enhances the overall shopping experience but also provides retailers with valuable insights into customer behavior, enabling them to tailor their offerings and marketing strategies.
“We’re very excited to back Omar and the team at Zeal with an Egypt & MENA-based team building a global first product offering,” Wael Nafee from Raed Ventures added.
“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.”
Zeal’s successful funding round signifies not only a vote of confidence from investors but also a significant step forward in the company’s mission to transform the retail landscape globally. As Zeal expands its footprint into the EMEA regions, the technology is poised to redefine how businesses and customers interact, setting the stage for a new era in smart payments and customer engagement.
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