Egyptian company Zeal, a mobile payments and customer loyalty start-up, has raised an undisclosed round of seed funding to help it expand its workforce and operations in Egypt and the UK. The UK link comes after Zeal was incubated at SETsquared UK. Zeal allows users to connect a payment method to the Zeal application QR code and present it to a scanner in shops to pay and collect loyalty points in the same transaction.
Vendors receive a data analytics dashboard that tracks live spending at their branches, with the ability to forecast future customer spending using Artificial Intelligence. The dashboard enables vendors to view actionable insights to trigger consumer behaviour, engage with customers through targeted offers, push notifications, and analyse customer data to increase their purchasing frequency and customer loyalty.
Financial inclusion has been prioritised by the Central Bank of Egypt in the country with 100 million inhabitants. Zeal is targeting multi-sited food and beverage outlets, beauty salons and barbers' shops serving affluent and tech-savvy consumers.
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