Dubai-based embedded payments platform Enza has secured $6.75 million in seed funding to expand its financial infrastructure solutions across Africa. The round was co-led by Algebra Ventures and Quona Capital.
Key Details
- Founded: 2023 by former Network International executives
- Focus: Enables localized payment solutions for African markets
- Product: Unified platform covering:
- Issuing side: Cards, wallets, BNPL for banks/fintechs
- Acceptance side: Digital payments for SMEs/merchants
- Current Coverage: Egypt, Nigeria, South Africa
- Payment Methods Supported:
- Domestic schemes
- Real-time payments
- Mobile money
- International payment networks
Strategic Impact
The funding will accelerate expansion to additional African markets while enhancing existing offerings. Enza’s leadership brings deep expertise from Network International, where founders managed global acceptance, processing, and consumer finance operations.
Hany Fekry, Enza CEO, stated:
“This investment validates our team’s expertise and our mission to empower financial institutions driving inclusion across Africa through locally relevant payment solutions.”