TLDR:

Egyptian fintech startup, Zeal, has raised $4 million in funding to expand its technology throughout Europe, the Middle East, and Africa (EMEA). The funding was led by Raed Ventures and Cur8 Capital, with participation from angel investors. Zeal allows users to link a payment method to the app’s QR code, which can then be scanned for payment and loyalty punch collection. The company will use the funding to improve global retail customer engagement through AI.

Key Points:

• Egyptian fintech startup Zeal has raised $4 million in funding to expand its technology throughout EMEA.
• The funding round was led by Raed Ventures and Cur8 Capital, with participation from angel investors.
• Zeal allows users to link a payment method to the app’s QR code for payment and loyalty punch collection.
• The company plans to use the funding to improve global retail customer engagement through AI.

Egyptian fintech startup Zeal has secured $4 million in funding to expand its technology across Europe, the Middle East, and Africa (EMEA). The funding round was led by Raed Ventures and Cur8 Capital, with participation from several angel investors. Zeal’s platform allows users to link a payment method to the app’s QR code, which can then be scanned for payment and loyalty punch collection in a single transaction. Vendors using Zeal receive a dashboard for data analytics, allowing them to track real-time branch spending and forecast future customer spending using AI-powered tools.

The fintech startup also offers actionable insights for influencing consumer behavior, engaging customers through targeted offers and notifications, and analyzing customer data to enhance purchasing frequency and loyalty. Zeal plans to use the funding to improve global retail customer engagement through AI, particularly with its SmartPOS Plugin solution. SmartPOS Plugin allows credit card machines to recognize, categorize, and re-engage with in-store customers, fundamentally changing how physical retailers engage and retain their customer base.

Zeal has already made significant advancements in the payments industry, forging partnerships with key players such as Ingenico and Network International. The company has also received accolades like the Visa Everywhere Initiative. This latest funding round follows an undisclosed seed funding round completed by Zeal in December 2020, which was aimed at aiding its expansion plans. With the new funding, Zeal aims to further develop its technology and broaden its impact by connecting billions of customers with millions of retailers.