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African Startup Funding Tracker

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Egyptian Fintech Startup Zeal Raises USD 4 M Funding Round
Egyptian Fintech Startup Zeal Raises USD 4 M Funding Round

Egyptian fintech and customer loyalty app Zeal has closed a USD 4 M seed funding round to help it increase its footprint into the wider MENA market. The round was led by Raed Ventures and Cur8 Capital, along with strategic angel investors. The funding will further Zeal’s reach and impact, enhancing its existing payment acquirers portfolio and ease of integrating with POS terminals globally. It also plans to build advanced data and analytics solutions for the FMCG and telecom sectors.

Zeal offers payment solutions to retailers and other offline businesses to improve in-store customer engagement and brand loyalty. Its SmartPOS Plugin technology enables credit card machines to identify, segment, and retarget in-store customers. The startup recently expanded to the UK, and now plans to increase its footprint into the wider MENA market.