Egyptian fintech startup Zeal has raised US$10 million in funding to help it expand globally.
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 transactions into customer data.
The startup has raised US$10 million in funding from undisclosed investors, taking its total funding to date to US$14 million after a US$4 million round back in 2024.
Zeal currently operates with partners across the UK and Europe, the Middle East and Latin America, and has built a pipeline covering four million payment terminals globally. The funding will be used to activate this pipeline and scale its technology as the company expands its payment-linked loyalty, customer identification and analytics infrastructure internationally.
“A card payment should be the start of a more useful customer relationship,” said Omar Ebeid, co-founder and CEO of Zeal. “The hard part is connecting the fragmented infrastructure behind the counter. We have spent years working across that ecosystem. With signed acquirer contracts covering more than four million card machines, this funding supports the next 24 months of activation and the next stage of Zeal’s growth.”
