- Enza Raises $6.75M to Support Digital Services Expansion in Africa
- Funding Round Led by Algebra Ventures and Quona Capital to Offer Innovative Payment Solutions
- Investment to Drive Market Leadership in Africa by Enabling Companies to Achieve Financial Inclusion
UAE-based FinTech company Enza has successfully raised $6.75 million in a Seed funding round, co-led by Algebra Ventures and Quona Capital.
Currently operating in Egypt, Nigeria, and South Africa, this new investment will support Enza’s expansion into other key African markets.
Founded in 2023 by Hany Fekry, Enza provides innovative payment solutions that enable banks and FinTech companies to offer locally tailored payment services, including cards, digital wallets, and instant payment solutions.
This funding marks Enza’s first external investment since its inception.
Hany Fekry, CEO of Enza, expressed his excitement about the funding, stating:”We are thrilled to partner with Algebra Ventures and Quona Capital, as we share a common vision of transforming financial services in Africa through digital payments.
This investment is a strong endorsement of our team, our market-leading solutions, and our commitment to empowering banks and FinTech companies to drive financial inclusion across the continent.”
Currently, Enza enables a wide range of digital payment options, including local payment networks, real-time payments, mobile money, and Buy Now, Pay Later (BNPL) services, alongside international payment systems.
Strategic Investment for Digital Transformation
This funding highlights Enza’s commitment to advancing digital transformation in Africa by delivering cutting-edge payment solutions that enhance financial accessibility and efficiency for institutions and consumers alike.
