Egyptian Fintech Startup Zeal Secures $4 Million to Expand into New Markets


Egyptian fintech startup Zeal has recently announced that it raised $4 million in funding through a round led by venture capital firms Raed Ventures and Cur8 Capital. The funds will be utilized to support Zeal's expansion into the European, Middle Eastern, and African markets, as well as to enhance customer connections and revolutionize retail customer engagement on a global scale using artificial intelligence (AI).

Funding Details

The funding round, led by Raed Ventures and Cur8 Capital, with the participation of several angel investors, has provided Zeal with the necessary financial backing to enter new markets and drive its growth. This funding comes shortly after Zeal received an Enterprise Investment Scheme (EIS) tax relief advanced assurance, which ensures the company's eligibility for tax benefits associated with the scheme, as determined by the United Kingdom tax authority HM Revenues and Customs (HMRC).

Revolutionizing Retail Customer Engagement

Omar Ebeid, the CEO of Zeal, expressed enthusiasm about the investment and its potential to accelerate the company's use of AI to transform retail customer engagement on a global level. "This investment will propel us forward in our mission to revolutionize retail customer engagement by leveraging the power of AI. Our goal is to connect billions of customers with millions of retailers, broadening our impact and enhancing the customer experience," said Ebeid.

An Important Solution for Payment Service Providers

Wael Nafee from Raed Ventures believes that Zeal's comprehensive product will ultimately become a crucial solution for payment service providers and point of sale (POS) machines worldwide. The company's innovative approach to customer loyalty and engagement has the potential to disrupt the industry and provide value to both customers and retailers alike.


With the recent $4 million funding secured, Zeal is well-positioned to expand into new markets and revolutionize retail customer engagement using AI. The company's commitment to enhancing customer connections and its comprehensive product offering make it a promising player in the fintech industry. As Zeal continues to grow and innovate, it has the potential to become a key solution for payment service providers and further transform the retail landscape globally.


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By: Terence Zimwara
Title: Egyptian Fintech Startup Zeal Secures $4 Million to Expand into New Markets
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Published Date: Thu, 18 Jan 2024 10:30:57 +0000

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