Cairo-based technology company Zeal has secured $4 million in a successful funding round led by Raed Ventures and Cur8 Capital, along with a consortium of strategic angel investors. The funds raised are earmarked for expanding Zeal’s groundbreaking technology solutions into the Europe, Middle East, and Africa (EMEA) regions, following the company’s recent triumph in the UK market.

At the core of Zeal’s product offering is the SmartPOS Plugin, a revolutionary technology reshaping the landscape of in-store payments and customer interactions in the smart payment solutions sector. This innovative solution empowers credit card readers to identify, classify, and re-target in-store customers, fundamentally transforming how retailers engage with their clientele and drive increased conversion rates.

Founder and CEO of Zeal, Omar Obaid, expressed his enthusiasm about the funding and the company’s vision. “This investment will accelerate our journey towards utilizing artificial intelligence to transform customer interactions in retail globally,” Obaid stated. “We are committed to expanding our impact, with a focus on connecting billions of customers to millions of retailers.”

The SmartPOS Plugin is positioned as a game-changer, offering retailers the ability to interact with customers in a more personalized and efficient manner. The technology not only enhances the overall shopping experience but also provides retailers with valuable insights into customer behavior, enabling them to tailor their offerings and marketing strategies.

Wael Nafea of Raed Ventures shared his excitement about supporting Zeal’s mission. “We are very excited to support Omar and the Zeal team, which is based in Egypt and the Middle East. They are working to build a unique global product for the smart payments market, a market thirsty for innovators who provide value-added services.”

Nafea emphasized the belief that Zeal’s product is a key innovative solution for payment service providers and point-of-sale (POS) device manufacturers globally. As the smart payments market continues to evolve, the demand for cutting-edge solutions like Zeal’s SmartPOS Plugin is expected to rise, positioning the company as a key player in the industry.

Zeal’s successful funding round signifies not only a vote of confidence from investors but also a significant step forward in the company’s mission to transform the retail landscape globally. As Zeal expands its footprint into the EMEA regions, the technology is poised to redefine how businesses and customers interact, setting the stage for a new era in smart payments and customer engagement.

Zeal Smart Payments Zeal Smart Payments

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.  As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.