Zeal secures $10 million for global expansion
Egypt-based fintech Zeal has raised $10 million in a new funding round, bringing its total funding to $14 million. The company did not disclose the investors participating in the round. Founded in 2019 by Omar Ebeid and Belal Mohamed, Zeal develops software that integrates with existing payment terminals, enabling physical retailers to identify and reward customers at checkout and turn in-store…
Egypt-based fintech startup Zeal has secured $10 million in new funding, increasing its total capital raised to $14 million. The company, founded in 2019 by Omar Ebeid and Belal Mohamed, offers software that integrates with existing payment terminals, turning physical retail transactions into valuable customer data. Zeal's technology currently operates with partners in the UK, Europe, the Middle East, and Latin America, and has built a pipeline covering four million payment terminals worldwide.
The newly raised capital will be used to activate this global terminal pipeline and expand Zeal's technology, focusing on payment-linked loyalty, customer identification, and analytics infrastructure. The company expects to roll out its technology within the next 24 months, supported by signed contracts with payment acquirers worldwide, which cover more than four million card machines.
Zeal's solution addresses the challenge of connecting fragmented payment environments and delivering customer insights to merchants and payment providers. The company's CEO, Omar Ebeid, emphasized the importance of connecting the checkout experience to build a more useful customer relationship, while CTO Belal Mohamed highlighted the role of infrastructure in enabling this integration.
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