Enza Secures $6.75M Seed Funding to Revolutionize African Payments

Enza, a rising force in Africa’s digital payments landscape, has successfully raised $6.75 million in seed funding, marking its first external investment. The funding round was co-led by Algebra Ventures and Quona Capital, positioning Enza for significant expansion across key African markets.

With a mission to drive financial inclusion through seamless and cost-effective digital payments, Enza empowers banks, fintechs, and financial institutions with innovative solutions, including card payments, mobile wallets, and real-time transactions. The newly acquired capital will bolster Enza’s ability to develop localized solutions, expand its market reach, and build strategic partnerships.

Founded by seasoned experts in the payments industry, Enza has already demonstrated its capacity to address Africa’s unique financial challenges. By reducing transaction costs and providing banks and fintechs with the tools to offer accessible digital payment options, Enza is playing a crucial role in shaping the future of financial services across the continent.

“We are excited to collaborate with Algebra Ventures and Quona Capital, who share our belief in the transformative power of digital payments,” said Hany Fekry, CEO of Enza. “This investment affirms our vision and will enable us to scale our services, supporting financial institutions in delivering innovative, inclusive payment solutions.”

Driving Growth Through Strategic Collaboration

Enza’s partnership with Algebra Ventures and Quona Capital aligns with its goal of addressing Africa’s financial inclusion gap. With over 60 million underserved small businesses and a largely underbanked population, the company’s platform is equipping financial institutions with market-relevant digital payment solutions, including domestic and international schemes, mobile money, real-time payments, and Buy Now, Pay Later (BNPL) options.

By providing critical payment infrastructure and leveraging data-driven insights, Enza is enabling its clients to expand their financial services offerings, attract new customers, and create new revenue streams.

“Enza is uniquely positioned to reshape Africa’s payments ecosystem by providing banks and fintechs with the essential tools they need to scale,” said Tarek Assaad, Managing Partner at Algebra Ventures. “With a leadership team that boasts deep experience in building and scaling fintech businesses, Enza is rapidly gaining traction as a major player in the African digital payments space. We are proud to support their journey.”

As Africa’s digital economy continues to grow, Enza’s cutting-edge solutions are set to play a key role in transforming how businesses and consumers transact, paving the way for a more inclusive financial future.