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Egyptian Payments Company, Zeal, Secures $4M Funding

Zeal

Egyptian payments company, Zeal, has successfully secured $4 million in funding through a round led by RAED Ventures and Cur8 Capital, alongside strategic angel investors. This funding marks a pivotal moment for the startup, as it gears up to expand its technology solutions across the EMEA region, following a recent foray into the UK market.

Key to Zeal’s groundbreaking product offering is the SmartPOS Plugin, a transformative technology that is set to redefine in-store customer engagement and payment intelligence. Unlike traditional credit card machines, the SmartPOS Plugin empowers retailers to identify, segment, and retarget in-store customers. This approach aims to transform the way physical retailers engage with and retain their clientele.

Zeal has already made significant strides in the payments industry through strategic partnerships with leading entities such as Ingenico and Network International. The fintech startup has earned accolades, including the Visa Everywhere Initiative award, highlighting the industry’s recognition of its innovative solutions. The latest funding round is expected to accelerate Zeal’s reach and impact, enhancing its payment acquirers portfolio and global integration with POS terminals.

What They Said:

Founder and CEO Omar Ebeid expressed excitement about the future: “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.”

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

With a clear vision and a strong foundation, Zeal is well-positioned to lead the charge in becoming the leading Value Added Service solution for payment acquirers and merchants globally. The investment not only accelerates Zeal’s journey but also signifies a broader commitment to connecting billions of customers with millions of retailers, setting the stage for a transformative impact on the retail and payments landscape.

Also Read: eFinance Partners with Software Group to Promote Financial Inclusion in Egypt

About author

Editor at TechArena. I cover all things technology and review new gadgets as I get them. You can reach me on email: kaluka@techarena.co.ke
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