Cairo- Sharikat Mubasher: The Cairo-based fintech company Zeal secured $4 million in a funding round led by Raed Ventures and Cur8 Capital, along with strategic angel investors, a recent statement unveiled.

Zeal will dedicate the proceeds to expanding its innovative technology solutions across Europe, the Middle East, and Africa (EMEA) region, enhancing its existing payment acquirers portfolio and ease of integrating with point of sale (POS) terminals globally.

The company also plans to build advanced data and analytics solutions for fast-moving consumer goods (FMCG) and telecom sectors.

Zeal’s technology enables credit card machines to identify, segment, and retarget in-store customers, transforming the way physical retailers engage with and retain their clientele.

Omar Ebeid, Founder and CEO of Zeal, said that the investment will fuel the company’s plans to utilize artificial intelligence (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," Ebeid stated.

On the other hand, Wael Nafee, General Partner at Raed Ventures, commented: “We believe that Zeal's holistic product is a key innovative solution to payment service providers and POS manufacturers globally."

Zeal is committed to transforming the retail experience, with a main focus on innovative POS solutions and a growing product portfolio for POS Value Added Services (VAS) and card loyalty. It targets connecting customers with retailers worldwide, driving engagement and loyalty in the retail sector.