London-based and Egypt-founded payments technology startup Zeal has raised USD 10 million, bringing its total funding to USD 14 million. The funding round’s participants have not been disclosed. However, earlier backers include Saudi Arabia’s Raed Ventures, Pinnacle Capital and CUR8 Capital.

This comes as it prepares to activate its technology across more than four million card machines under signed contracts with payment acquirers globally.

Zeal is using its latest funding to connect payment terminals with the customer and merchant data that sits behind each transaction.

Why You Should Care

In physical retail, the payment itself often marks the end of the customer relationship. Unlike online transactions, where purchases can feed directly into loyalty programmes and customer data systems, payments made at a terminal do not always translate into usable customer insight for merchants.

Zeal is addressing this gap by bringing loyalty and merchant intelligence into supported payment terminal environments. Its platform allows merchants to configure loyalty programmes, including points and stamps, while also offering optional phone number capture and integrations with existing loyalty systems.

For payment providers, the company offers another layer of visibility into merchant activity. Its Merchant Health tools track changes in transaction volumes, terminal activity, payment declines and periods of trading inactivity, giving providers a way to identify changes across their merchant base.

The Details

Founded in 2019 by Omar Obeid and Bilal Mohamed, Zeal is an Egyptian-founded and London-based fintech. It is a payment technology startup focusing on bringing loyalty and merchant intelligence to payment terminals. 

It has contracts with payment acquirers globally covering more than four million card machines. Moreover, it plans to activate its technology across those terminals over the next 24 months.

The rollout will support the company’s expansion across different payment environments and deepen its integrations with payment providers. Zeal distributes its technology through acquirers and other payments partners. Thus, it aims to reach existing terminal estates rather than relying on merchants to adopt a standalone system.

Its platform is designed around different payment and merchant setups. Moreover, loyalty features and customer insights delivered within supported checkout journeys.

The Ripple

Zeal’s expansion comes as payment terminals increasingly function as software-enabled devices alongside their core role in processing payments. Android-based terminal ecosystems, in particular, can support business applications alongside payment functions.

This creates a route for loyalty and merchant tools to become part of the checkout experience, although fragmented terminal manufacturers, operating systems, payment applications, and acquiring platforms still create integration challenges.

For payment acquirers and service providers, Zeal’s model creates a way to extend their relationship with merchants beyond transaction processing. For merchants, it links payment activity with tools designed to understand customer engagement and changes in business performance.

What to Watch

The key signal over the next 24 months will be the execution of Zeal’s contracted rollout across more than four million card machines.

The company aims to focus on expanding its acquirer relationships, strengthening integrations across payment environments, and developing its merchant and loyalty tools as it scales internationally.