Egyptian payment solutions startup, Enza, has raised $6.75 million in seed funding to expand its presence across Africa and enhance financial inclusion through digital payment solutions.
The funding round, co-led by Algebra Ventures and Quona Capital, marks Enza’s first external investment and will support its efforts to provide seamless, locally relevant payment infrastructure for banks and fintech companies. Enza’s platform enables institutions to offer cards, wallets, and real-time payment solutions tailored to the African market.
Expanding Financial Access Across Africa
Hany Fekry, CEO of Enza, expressed enthusiasm about the funding and the company’s mission to transform financial services through digital payments.
“We are thrilled to partner with Algebra Ventures and Quona Capital, who share our vision of revolutionizing financial services in Africa,” Fekry said. “This investment validates our team’s expertise, our market-leading services, and our commitment to empowering banks and fintechs to drive financial inclusion across the continent.”
The fresh capital will enable Enza to deepen its partnerships, scale its operations, and better cater to the needs of its growing customer base.
Investor Confidence in Enza’s Vision
Tarek Assaad, managing partner at Algebra Ventures, emphasized Enza’s strong position in reshaping Africa’s payment landscape by delivering essential infrastructure for financial institutions.
“The Enza leadership team has an impressive track record of launching, scaling, and exiting fintech businesses across the continent. From day one, Enza was strategically positioned as a pan-African payments player, and its rapid growth is a testament to its capabilities. We are excited to support the team on this journey,” Assaad said.
Johan Bosini, partner at Quona Capital, highlighted the startup’s role in advancing financial inclusion by enabling banks and fintech firms to offer seamless digital payment solutions.
“Quona is excited to back this experienced team as they work to make a significant impact by providing accessible digital payments for banks, fintechs, and the SMEs they serve,” Bosini stated.
With Africa’s digital payments sector experiencing rapid growth, Enza’s latest funding positions it as a key player in shaping the future of financial transactions on the continent.
