Introduction
Egyptian fintech startup Zeal has recently announced that it has raised $4 million in funding to support its expansion into the European, Middle Eastern, and African markets. The funding round was led by venture capital firms Raed Ventures and Cur8 Capital, with the participation of several angel investors. This capital raise will enable Zeal to accelerate its mission of utilizing AI to revolutionize retail customer engagement on a global scale.
Advancing with Enterprise Investment Scheme Tax Relief
Last year, Zeal received an advanced assurance for Enterprise Investment Scheme (EIS) tax relief. This assurance, provided by the United Kingdom's tax authority HM Revenues and Customs (HMRC), determines a company's eligibility for the tax benefits associated with the EIS. Zeal's ability to secure this relief demonstrates its commitment to innovation and growth.
Enhancing Customer Engagement
Omar Ebeid, the CEO of Zeal, expressed that the raised capital will not only support the expansion into new markets but also strengthen the company's connection with customers. Ebeid emphasized the use of AI to transform retail customer engagement on a global scale. The ultimate goal is to connect billions of customers with millions of retailers, broadening Zeal's impact and revolutionizing the industry.
Positive Outlook from Investors
Wael Nafee from Raed Ventures expressed optimism about Zeal's future prospects. Nafee believes that Zeal's comprehensive product has the potential to become a vital solution for payment service providers and point of sale (POS) machines worldwide. This endorsement highlights the confidence that investors have in Zeal's innovative approach.
Conclusion
With the recent $4 million funding secured, Zeal is well-positioned to expand its operations into new markets. The company's focus on utilizing AI and enhancing customer engagement sets it apart in the fintech industry. As Zeal continues to revolutionize retail customer engagement, it aims to make a significant impact on the global stage.
What are your thoughts on Zeal's expansion and its utilization of AI in retail customer engagement? Let us know in the comments section below.
Frequently Asked Questions
What precious metal is best for investing?
This question depends on how risky you are willing to take, and what return you want. Gold is a traditional haven investment. However, it is not always the most profitable. For example, if you need a quick profit, gold may not be for you. Silver is a better investment if you have patience and the time to do it.
Gold is the best investment if you aren't looking to get rich quick. If you want to invest in long-term, steady returns, silver is a better choice.
How to Open a Precious Metal IRA
First, decide if an Individual Retirement Account is right for you. To open the account, complete Form 8606. To determine which type of IRA you qualify for, you will need to fill out Form 5204. This form should be filled within 60 calendar days of opening the account. After this, you are ready to start investing. You can also choose to pay your salary directly by making a payroll deduction.
You must complete Form 8903 if you choose a Roth IRA. Otherwise, the process is identical to an ordinary IRA.
To be eligible for a precious metals IRA, you will need to meet certain requirements. The IRS states that you must be at least 18 and have earned income. You can't earn more than $110,000 per annum ($220,000 in married filing jointly) for any given tax year. Contributions must be made regularly. These rules will apply regardless of whether your contributions are made through an employer or directly out of your paychecks.
A precious metals IRA can be used to invest in palladium or platinum, gold, silver, palladium or rhodium. But, you'll only be able to purchase physical bullion. This means that you will not be allowed to trade shares or bonds.
Your precious metals IRA can be used to directly invest in precious metals-related companies. This option may be offered by some IRA providers.
An IRA is a great way to invest in precious metals. However, there are two important drawbacks. They aren't as liquid as bonds or stocks. It is therefore harder to sell them when required. Second, they don’t produce dividends like stocks or bonds. So, you'll lose money over time rather than gain it.
How is gold taxed by Roth IRA?
An investment account's tax rate is determined based upon its current value, rather than what you originally paid. If you invest $1,000 in mutual funds or stocks and then later sell them, all gains are subjected to taxes.
You don't pay tax if you have the money in a traditional IRA/401k. Taxes are only charged on capital gains or dividends earned, which only apply to investments longer than one calendar year.
The rules that govern these accounts differ from one state to the next. For example, in Maryland, you must take withdrawals within 60 days after reaching age 59 1/2 . Massachusetts allows you to wait until April 1. New York allows you to wait until age 70 1/2. You should plan and take distributions early enough to cover all retirement savings expenses to avoid penalties.
Can I buy Gold with my Self-Directed IRA?
Your self-directed IRA can be used to purchase gold, but first you need to open an account with a brokerage firm such as TD Ameritrade. You can also transfer funds from another retirement account if you already have one.
The IRS allows individuals to contribute up to $5,500 annually ($6,500 if married and filing jointly) to a traditional IRA. Individuals can contribute up to $1,000 annually ($2,000 if married and filing jointly) directly to a Roth IRA.
If you do decide you want to invest your money in gold, you should look into purchasing physical bullion instead of futures contracts. Futures contracts, which are financial instruments based upon the price of gold, are financial instruments. These financial instruments allow you to speculate about future prices without actually owning the metal. However, physical bullion is real gold or silver bars you can hold in your hands.
Statistics
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.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)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
External Links
bbb.org
wsj.com
- Saddam Hussein's Invasion Helped Uncage a Bear In 1990 – WSJ
- Want to Keep Gold in Your IRA at Home? It's not legal – WSJ
law.cornell.edu
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement account
forbes.com
- Gold IRA – Add Sparkle to Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
How To
3 Ways to Invest in Gold for Retirement
It's crucial to understand where gold fits in your retirement strategy. You have many options for investing in gold if there is a 401K account at your workplace. You might also consider investing in gold outside your workplace. If you have an IRA (Individual Retirement Account), a custodial account could be opened at Fidelity Investments. You may also want to purchase precious metals from a reputable dealer if you don’t already have them.
These are three easy rules to remember if you invest in gold.
- Buy Gold with Your Money – You don't need credit cards, or to borrow money to finance your investments. Instead, instead, transfer cash to your accounts. This will help to keep your purchasing power high and protect you against inflation.
- Physical Gold Coins You Should Buy – Physical gold coins should be purchased over a paper certificate. It's easier to sell physical gold coins rather than certificates. Physical gold coins are also free from storage fees.
- Diversify your Portfolio. In other words, spread your wealth around by investing in different assets. This reduces risk and allows you to be more flexible during market volatility.
—————————————————————————————————————————————————————————————-
By: Terence Zimwara
Title: Egyptian Fintech Startup Zeal Secures $4 Million to Expand into New Markets
Sourced From: news.bitcoin.com/egyptian-fintech-startup-zeal-secures-4-million-to-fund-expansion-to-new-markets/
Published Date: Thu, 18 Jan 2024 10:30:57 +0000
