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ZealThe Story
Summary
Wamda's 2020 coverage lists Bellal Mohamed among the founders of Zeal Rewards, an Egypt-based payments and loyalty app. Its 2026 report names Belal Mohamed as Zeal co-founder and CTO and Innovator of the Year at the UK FinTech Awards 2026, and covers a 10 million dollar round.
Details
Wamda describes Zeal as an Egypt-based fintech founded in 2019. Its December 2020 piece, which calls the company Zeal Rewards, lists Omar Ebeid, Bellal Mohamed and Amr Mohamed as founders. Its September 2026 report says Zeal was founded in 2019 by Omar Ebeid, co-founder and CEO, and Belal Mohamed, co-founder and CTO. In 2020, Wamda described an app combining QR-code payments with loyalty rewards for offline businesses such as food and beverage outlets and beauty salons. The company was incubated by SETsquared in the UK.
Wamda reported on 7 December 2020 that Zeal Rewards closed a seed round of undisclosed size. The University of Surrey student enterprise blog, in January 2021, also names Bellal Mohamed as a founder. Both Wamda and the blog say the money would go toward growing the team and scaling operations in Egypt and the UK. Wamda's 2026 report says Zeal's previous round was 4 million dollars in 2024, led by Raed Ventures and Cur8 Capital, with strategic angel investors.
Wamda reported on 10 September 2026 that Zeal raised 10 million dollars, bringing total funding to 14 million dollars. The company did not disclose the investors in the round. Zeal makes software that integrates with payment terminals so physical retailers can identify and reward customers at checkout. Zeal says it has signed contracts with payment acquirers to activate its technology on more than four million card machines over the next 24 months. The report says Belal Mohamed, co-founder and CTO, was named Innovator of the Year at the UK FinTech Awards 2026.
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