- Zeal, an Egyptian fintech startup, has raised $4 million in funding to expand its technology throughout Europe, the Middle East, and Africa (EMEA) following its recent entest into the UK market.
- Raed Ventures and Cur8 Capital led the round, while several angel investors participated.
- This news comes less than a year after the co-founder, Omar Feid, announced that the company had received its “EIS Tax relief advanced assurance,” which is an concludeorsement from HM Revenue and Customs indicating that an investment in the company could qualify for tax relief. Feid called this news “amazing news for UK investors.”
Zeal, founded in 2019 by Ebeid, Bellal Mohamed, and Amr Mohamed, allows utilizers to link a payment method to the app’s QR code, which they can then present to an in-store scanner for payment and loyalty punch collection in a single transaction.
Vconcludeors receive a dashboard for data analytics that tracks real-time branch spconcludeing. They can forecast future customer spconcludeing with this AI-powered dashboard.
The customer-loyalty-focutilized fintech also offers actionable insights for influencing consumer behaviour, engaging customers through tarobtained offers and notifications, and analysing customer data to enhance purchasing frequency and loyalty.
According to Ebeid, the company, committed to broadening its impact by connecting billions of customers with millions of retailers, will utilize the funding to improve global retail customer engagement through AI.
Leading the fintech portfolio is SmartPOS Plugin, a solution that allows credit card machines to recognise, categorise, and re-engage with in-store customers, fundamentally modifying how physical retailers engage and retain their customer base.
The company states it has achieved notable advancements in the payments industest, forging partnerships with key players such as Ingenico and Network International and securing accolades like the Visa Everywhere Initiative.
In December 2020, Zeal announced the completion of an undisclosed round of seed funding to aid its expansion.
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