Zeal Secures $4 Million in Funding for Expansion
Egyptian fintech startup Zeal has recently announced that it has raised $4 million in funding. The funding round was led by venture capital firms Raed Ventures and Cur8 Capital, with the participation of several angel investors. The capital raise will support Zeal's expansion into the European, Middle Eastern, and African markets.
Utilizing AI to Revolutionize Retail Customer Engagement
Zeal's CEO, Omar Ebeid, stated that the funds raised will be used to accelerate the company's journey towards utilizing artificial intelligence (AI) in order to revolutionize retail customer engagement on a global scale. The focus will be on connecting billions of customers with millions of retailers and enhancing Zeal's connection with its customers.
Enterprise Investment Scheme (EIS) Tax Relief
It is worth noting that Zeal's latest capital raise comes less than a year after the company received an Enterprise Investment Scheme (EIS) tax relief advanced assurance. This assurance from the United Kingdom's tax authority, HM Revenues and Customs (HMRC), determines if a company qualifies for the tax benefits associated with the EIS.
Positive Outlook for Zeal's "Holistic Product"
Wael Nafee from Raed Ventures expressed confidence in Zeal's product, stating that it has the potential to become an important solution for payment service providers and point of sale (POS) machines worldwide. This highlights the positive outlook for Zeal's future in the fintech industry.
Overall, Zeal's recent funding will play a crucial role in its expansion plans and the development of its AI-driven solutions. With the support of investors and its commitment to revolutionizing customer engagement, Zeal is well-positioned to make a significant impact in the global retail market.
What are your thoughts on Zeal's recent funding announcement? Share your opinions in the comments section below.
Frequently Asked Questions
How much should precious metals be included in your portfolio?
First, let's define precious metals to answer the question. Precious elements are those elements which have a high price relative to other commodities. This makes them extremely valuable for trading and investing. Today, gold is the most commonly traded precious metal.
There are also many other precious metals such as platinum and silver. The price of gold fluctuates, but it generally remains stable during times of economic turmoil. It is also relatively unaffected both by inflation and deflation.
In general, prices for precious metals tend increase with the overall marketplace. That said, they do not always move in lockstep with each other. For instance, gold's price will rise when the economy is weak, while precious metals prices will fall. Investors expect lower interest rates which makes bonds less appealing investments.
However, when an economy is strong, the reverse effect occurs. Investors choose safe assets such Treasury Bonds over precious metals. They are more rare, so they become more expensive and less valuable.
To maximize your profits when investing in precious metals, diversify across different precious metals. It is also a good idea to diversify your investments in precious metals, as prices tend to fluctuate.
Are gold investments a good idea for an IRA?
For anyone who wants to save some money, gold can be a good investment. You can diversify your portfolio with gold. But gold is not all that it seems.
It has been used as a currency throughout history and is still a popular method of payment. It's often referred to as “the world's oldest currency.”
But unlike paper currencies, which governments create, gold is mined out of the earth. This makes it highly valuable as it is hard and rare to produce.
The supply and demand for gold determine the price of gold. If the economy is strong, people will spend more money which means less people can mine gold. As a result, the value of gold goes up.
On the other hand, people will save cash when the economy slows and not spend it. This causes more gold to be produced, which lowers its value.
This is why it makes sense to invest in gold for individuals and companies. If you have gold to invest, you will reap the rewards when the economy expands.
Your investments will also generate interest, which can help you increase your wealth. Additionally, you won't lose cash if the gold price falls.
Can I purchase gold with my self directed IRA?
You can purchase gold with your self-directed IRA, but you must first open an account at a brokerage firm like TD Ameritrade. If you already have a retirement account, funds can be transferred to it.
Individuals can contribute as much as $5,500 per year ($6,500 if married filing jointly) to a traditional IRA. Individuals may contribute up to $1,000 ($2,000 if married, filing jointly) directly into a Roth IRA.
If you do decide to invest in gold, you'll want to consider purchasing physical bullion rather than investing in futures contracts. Futures contracts can be described as financial instruments that are determined by the gold price. These financial instruments allow you to speculate about future prices without actually owning the metal. But, physical bullion is real bars of gold or silver that you can hold in one's hand.
How much money should I put into my Roth IRA?
Roth IRAs let you save tax on retirement by allowing you to deposit your own money. You cannot withdraw funds from these accounts until you reach 59 1/2. However, if you do decide to take out some of your contributions before then, there are specific rules you must follow. First, you cannot touch your principal (the original amount deposited). You cannot withdraw more than the original amount you contributed. If you decide to withdraw more money than what you contributed initially, you will need to pay taxes.
The second rule states that income taxes must be paid before you can withdraw earnings. Also, taxes will be due on any earnings you take. For example, let's say that you contribute $5,000 to your Roth IRA every year. Let's say you earn $10,000 each year after contributing. You would owe $3,500 in federal income taxes on the earnings. The remaining $6,500 is yours. Since you're limited to taking out only what you initially contributed, that's all you could take out.
If you took $4,000 from your earnings, you would still owe taxes for the $1,500 remaining. You would also lose half of your earnings because they are subject to another 50% tax (half off 40%). So even though your Roth IRA ended up having $7,000, you only got $4,000.
Two types of Roth IRAs are available: Roth and traditional. A traditional IRA allows you to deduct pre-tax contributions from your taxable income. To withdraw your retirement contribution balance plus interest, your traditional IRA is available to you. A traditional IRA can be withdrawn up to the maximum amount allowed.
Roth IRAs do not allow you to deduct your contributions. However, once you retire, you can withdraw your entire contribution plus accrued interest. There is no minimum withdrawal required, unlike a traditional IRA. You don’t have to wait for your turn 70 1/2 years before you can withdraw your contributions.
Statistics
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
