Enza raises $6.75 million to enhance payment solutions in Africa

Enza, a fintech startup founded by former Network International executives Hany Fekry and Hamish Houston, has raised $6.75 million in seed funding co-led by Algebra Ventures and Quona Capital. The company aims to enhance payment infrastructure for banks and fintechs across Africa, offering solutions like cards, wallets, and real-time payments. By focusing on Egypt, Nigeria, and South Africa, Enza seeks to empower small businesses and improve financial inclusion by reducing transaction costs. The founders identified a significant gap in the market for comprehensive payment solutions tailored to local needs after their departure from Network International. Enza's strategy involves leveraging their experience to foster long-term relationships between banks and fintechs, while also addressing the challenges posed by the rapidly evolving fintech landscape. This investment marks a pivotal step towards Enza's mission of transforming financial services in Africa through digitized payments.