Egyptian Fintech Startup Raises $4 Million in Funding
Egyptian fintech startup Zeal has recently announced that it has successfully raised $4 million in funding. The funding round was led by venture capital firms Raed Ventures and Cur8 Capital, with participation from angel investors. This capital raise will enable Zeal to expand its operations and enter new markets, including Europe, the Middle East, and Africa.
Utilizing AI to Revolutionize Retail Customer Engagement
The CEO of Zeal, Omar Ebeid, stated that the funding will be used to accelerate the company's goal of leveraging artificial intelligence (AI) to revolutionize retail customer engagement on a global scale. The aim is to connect billions of customers with millions of retailers and enhance Zeal's connection with its customers. The company believes that its holistic product will become a vital solution for payment service providers and point of sale (POS) machines worldwide.
Enterprise Investment Scheme Tax Relief Advanced Assurance
Prior to this funding round, Zeal received an advanced assurance for Enterprise Investment Scheme (EIS) tax relief from the United Kingdom's tax authority, HM Revenues and Customs (HMRC). This assurance confirms that the company is eligible for the tax benefits associated with EIS schemes. This recognition further solidifies Zeal's position and paves the way for its expansion into new markets.
With the newly raised capital and the support of investors, Zeal is well-positioned to disrupt the fintech industry and make a significant impact in the global retail customer engagement landscape. The company's innovative use of AI and its commitment to connecting customers with retailers set it apart from its competitors.
What are your thoughts on Zeal's recent funding announcement? Share your opinions in the comments section below.
Frequently Asked Questions
Is it a good retirement strategy to buy gold?
Although buying gold as an investment might not sound appealing at first, when you look at the average annual gold consumption worldwide, it is worth looking into.
The most popular form of investing in gold is through physical bullion bars. You can also invest in gold in other ways. Research all options carefully and make an informed decision about what you desire from your investments.
If you don't want to keep your wealth safe, buying shares in companies that extract gold and mining equipment could be a better choice. If you require cash flow, gold stocks can work well.
ETFs are an exchange-traded investment that allows you to gain exposure to the market for gold. You hold gold-related securities and not actual gold. These ETFs can include stocks of precious metals refiners and gold miners.
What Precious Metals Can You Invest in for Retirement?
Silver and gold are two of the most valuable precious metals. They are both simple to purchase and sell, and they have been around for a long time. They are a great way to diversify your portfolio.
Gold: This is the oldest form of currency that man has ever known. It is stable and very secure. It's a great way to protect wealth in times of uncertainty.
Silver: Silver has always been popular among investors. It is an excellent choice for investors who wish to avoid volatility. Silver tends to move up, not down, unlike gold.
Platinium: Another form of precious metal is platinum, which is becoming more popular. It's like silver or gold in that it is durable and resistant to corrosion. It is however more expensive than its counterparts.
Rhodium: Rhodium can be used in catalytic convertors. It is also used in jewelry-making. And, it's relatively cheap compared to other types of precious metals.
Palladium: Palladium is similar to platinum, but it's less rare. It is also cheaper. Investors looking to add precious and rare metals to their portfolios love it for these reasons.
How do I Withdraw from an IRA with Precious Metals?
First, determine if you would like to withdraw money directly from an IRA. Make sure you have enough cash in your account to cover any fees, penalties, or charges that may be associated with withdrawing money from an IRA.
Consider opening a taxable brokerage instead of an IRA if it is possible to pay a penalty if your withdrawal is made before the deadline. This option will require you to pay taxes on the amount that you withdraw.
Next, determine how much money you plan to withdraw from your IRA. This calculation depends on several factors, including the age when you withdraw the money, how long you've owned the account, and whether you intend to continue contributing to your retirement plan.
Once you know how much of your total savings to convert to cash, it's time to choose the type of IRA that you want. Traditional IRAs let you withdraw money tax-free after you turn 59 1/2, while Roth IRAs require you to pay income taxes upfront but allow you access the earnings later without paying any additional taxes.
Once the calculations have been completed, it's time to open a brokerage accounts. Many brokers offer signup bonuses or other promotions to encourage people to open accounts. You can save money by opening an account with a debit card instead of a credit card to avoid paying unnecessary fees.
When you finally get around to making withdrawals from your precious metal IRA, you'll need a safe place where you can store your coins. Some storage facilities will take bullion bars while others require you only to purchase individual coins. Before you choose one, weigh the pros and cons.
Bullion bars, for example, require less space as you're not dealing with individual coins. But, each coin must be counted separately. You can track their value by keeping individual coins.
Some people prefer to keep their coins in a vault. Some people prefer to store their coins safely in a vault. No matter what method you use, it is important to keep your bullion safe so that you can reap its benefits for many more years.
How much gold should you have in your portfolio?
The amount that you want to invest will dictate how much money it takes. If you want to start small, then $5k-$10k would be great. As you grow, you can move into an office and rent out desks. Renting out desks and other equipment is a great way to save money on rent. You only pay one month.
It's also important to determine what type business you'll run. In my case, I run a website-creation company. Our clients pay us between $1000-2000/month and depending on their order. Consider how much you expect to make from each client, if you decide to do this kinda thing.
Freelance work is not likely to pay a monthly salary. The project pays freelancers. This means that you may only be paid once every six months.
So you need to decide what kind of income you want to generate before you know how much gold you will need.
I recommend starting with $1k-$2k in gold and working my way up.
Who holds the gold in a gold IRA?
An individual who has gold is considered to be a “form of money” by the IRS and subject to taxation.
You must have at least $10,000 in gold and keep it for at most five years to qualify for this tax-free status.
Although gold can help to prevent inflation and price volatility, it's not sensible to have it if it's not going to be used.
If you plan to eventually sell the gold, you'll need a report on its value. This could impact the amount of capital gains taxes your owe if you cash in your investments.
Consult a financial advisor or accountant to determine your options.
How much of your portfolio should you hold in precious metals
Before we can answer this question, it is important to understand what precious metals actually are. Precious metals have elements with an extremely high worth relative to other commodity. This makes them very valuable in terms of trading and investment. Gold is by far the most common precious metal traded today.
There are however many other types, including silver, and platinum. The price of gold tends to fluctuate but generally stays at a reasonably stable level during periods of economic turmoil. It is also not affected by inflation and depression.
As a general rule, the prices for all precious metals tend to increase with the overall market. However, they may not always move in synchrony with each other. When the economy is in trouble, for example, gold prices tend to rise while other precious metals fall. Investors are more likely to expect lower interest rates making bonds less attractive investments.
When the economy is healthy, however, the opposite effect occurs. Investors are more inclined to invest in safe assets, such as Treasury Bonds, and they will not demand precious metals. They become less expensive and have a lower value because they are limited.
Diversifying across precious metals is a great way to maximize your investment returns. Additionally, since the prices of precious metals tend to rise and fall together, it's best to invest in several different types of precious metals rather than just focusing on one type.
What are the pros & cons of a Gold IRA?
An Individual Retirement Account is a more beneficial option than regular savings accounts. You don't pay taxes on any interest earned. This makes an IRA great for people who want to save money but don't want to pay tax on the interest they earn. There are some disadvantages to this investment.
For example, if you withdraw too much from your IRA once, you could lose all your accumulated funds. The IRS may prevent you from taking out your IRA funds until you reach 59 1/2. A penalty fee will be charged if you decide to withdraw funds.
The downside is that managing your IRA requires fees. Many banks charge between 0.5%-2.0% per year. Others charge management fees that range from $10 to $50 per month.
You can purchase insurance if you want to keep your money out of a bank. A majority of insurance companies require that you possess a minimum amount gold to be eligible for a claim. You may be required by some insurers to purchase insurance that covers losses as high as $500,000.
If you choose to go with a gold IRA, you'll need to determine how much gold you want to use. You may be limited in the amount of gold you can have by some providers. Others allow you the freedom to choose your own weight.
You will also have to decide whether to purchase futures or physical gold. Physical gold is more expensive than gold futures contracts. However, futures contracts give you flexibility when buying gold. You can set up futures contracts with a fixed expiration date.
You will also have to decide which type of insurance coverage is best for you. The standard policy does NOT include theft protection and loss due to fire or flood. However, it does cover damage caused by natural disasters. You may consider adding additional coverage if you live in an area at high risk.
In addition to insurance, you'll need to consider the cost of storing your gold. Insurance doesn't cover storage costs. In addition, most banks charge around $25-$40 per month for safekeeping.
A qualified custodian is required to help you open a Gold IRA. A custodian is responsible for keeping track of your investments. They also ensure that you adhere to federal regulations. Custodians cannot sell your assets. Instead, they must keep your assets for as long you request.
Once you have chosen the right type of IRA to suit your needs, it is time to fill out paperwork defining your goals. You should also include information about your desired investments, such as stocks or bonds, mutual funds, real estate, and mutual funds. It is also important to specify how much money you will invest each month.
After filling in the forms, please send them to the provider. After receiving your application, the company will review it and mail you a confirmation letter.
If you are thinking of opening a gold IRA for retirement, a financial professional is a great idea. A financial planner can help you decide the type of IRA that is right for your needs. They can also help reduce your costs by suggesting cheaper options for purchasing insurance.
Statistics
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- 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)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
External Links
irs.gov
finance.yahoo.com
forbes.com
- Gold IRA: Add some sparkle to your retirement nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
bbb.org
How To
Guidelines for Gold Roth IRA
Starting early is the best way to save for retirement. Start saving as soon and as often as you're eligible (usually around 50 years old) and keep going until retirement. You must contribute enough each year to ensure that you have adequate growth.
You may also wish to take advantage of tax-free investments such as a SIMPLE IRA, SEP IRA, and traditional 401(k). These savings vehicles allow you to make contributions without paying taxes on earnings until they are withdrawn from the account. These savings vehicles can be a great option for individuals who don't qualify for employer matching funds.
Savings should be done consistently and regularly over time. You will lose any potential tax advantages if you don't contribute enough.
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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
