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Zeal Rewards secures investment to expand

Zeal Rewards secures investment to expand

ArabFinance: Egypt-based fintech Zeal Rewards raised seed funding from an angel investor, aiming to grow its team and scale its operations locally and in the UK, MENAbytes cited a company statement on December 6th.

Zeal did not disclose the size of the investment, yet noted it was a six-figure round in USD, according to the news portal.

“We are targeting multi-sited food and beverage outlets, beauty salons and barbershops that are serving affluent and tech-savvy consumers,” MENAbytes quoted Founder and CEO of the startup Omar Ebeid as saying.

Being part of SETsquared, a university incubator in Britain, Zeal app enables the users to collect punches or points to be redeemed for different rewards from the same outlet they purchased at. In other words, “It is basically replacing loyalty cards with its digital solution that’s built on top of a payments product,” the company said.

 

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