Egyptian fintech startup Zeal has raised $10M to develop its payment technology and expand across the Middle East, Europe and Africa, according to the company.
Zeal did not disclose the funding round’s stage, participating investors or deal structure. It said the capital will support product development and geographic expansion.
Founded in 2019 by Omar Obaid and Bilal Mohamed, Zeal builds tools that use point-of-sale systems to help traditional retailers understand customer behavior and engage shoppers after a purchase.
Its SmartPOS Plugin adds customer engagement features to the payment process without requiring merchants to replace their existing point-of-sale infrastructure. The system can identify customers during in-store purchases and use transaction data to segment shoppers by purchasing patterns, enabling merchants to target specific groups after checkout.
The company said its approach addresses the limited customer visibility often available to traditional retailers compared with online businesses. Zeal is positioning payment devices as channels for customer analytics and ongoing engagement, rather than tools used only to complete transactions.
Zeal has also partnered with payments companies including Ingenico and Network International, and participated in Visa Everywhere, a global innovation program for fintech startups.
Source: EntArabi
