Egyptian fintech company Zeal has raised $4 million in a funding round led by Raed Ventures and Cur8 Capital to expand its AI-powered customer engagement solutions across Europe, the Middle East, and Africa. This funding follows Zeal’s recent penetration into the UK market, signaling the company’s ambitious plans for growth.
Zeal was founded in 2019 by Omar Ebeid and offers retailers and businesses innovative payment solutions that revolutionize in-store customer interactions and foster long-term brand loyalty. The company’s groundbreaking SmartPOS Plugin technology uses existing credit card machines to unlock new, powerful features.
Ebeid stated that this investment would further propel the company’s vision to use AI to transform global retail customer engagement. The aim is to bridge the gap between billions of customers and millions of retailers, creating a mutually beneficial scenario.
The SmartPOS Plugin is the core of Zeal’s offerings, redefining in-store engagement and payment intelligence. It uses standard card terminals to identify, segment, and retarget customers, allowing retailers to connect with their customers in novel ways.
Zeal’s journey has been marked by significant achievements, including partnerships with industry giants like Ingenico and Network International, and winning the Visa Everywhere Initiative. This new funding will help expand Zeal’s reach and impact, grow its acquirer portfolio, streamline global POS terminal integration, and develop advanced data and analytics solutions for the FMCG and Telecom sectors.
Wael Nafee of Raed Ventures expressed enthusiasm in supporting the Zeal team and believes their comprehensive solution offers great potential for payment service providers and POS manufacturers worldwide.
With a solid foundation and a clear vision for the future, Zeal aims to become the leading Value Added Service solution for payment acquirers and merchants globally.
