Enza, an embedded payment startup based in Dubai and founded by former Network International executives, has raised $6.75 million in seed equity funding. The round was co-led by Algebra Ventures and Quona Capital.
Founded in 2023, Enza’s payment solutions enable banks and fintechs to offer locally tailored payment services across African markets, including card issuance, digital wallets, and real-time payments.
The Enza platform is built to support both sides of the transaction chain — serving banks and fintechs on the issuing side, as well as SMEs and merchants on the acceptance side.
Existing client use cases feature the rollout of digital payment solutions, including domestic payment schemes, real-time payment services, mobile money, and Buy Now, Pay Later (BNPL) options, alongside international payment schemes across several African countries.
With operations in Egypt, Nigeria, and South Africa, the recent capital injection will help enza expand its footprint into other key markets throughout Africa.
Before founding enza, the leadership team oversaw global acceptance, processing, and consumer finance divisions at Network International.
Hany Fekry, CEO of enza, stated: “This investment is a strong vote of confidence in our team, our market-leading solutions, and our dedication to empowering banks and fintechs to advance financial inclusion across the continent.”
