Dubai – Sharikat Mubasher: Emirati payment solutions provider Enza announced raising $6.75 million in a seed equity round co-led by Algebra Ventures and Quona Capital.
According to the company’s press release, this marks Enza’s first external funding and will accelerate its efforts to enhance digital payments across the continent.
The investment will help Enza expand its presence in key African markets, foster stronger partnerships, and improve its ability to meet the unique needs of local clients. Enza’s platform empowers banks and fintechs with comprehensive payment capabilities, including cards, wallets, and real-time payments, reducing transaction costs and driving financial inclusion.
Founded by industry veterans with deep expertise in global and African payments, Enza has already demonstrated its ability to address local market challenges with innovative solutions.
Hany Fekry, Enza CEO said: “We are thrilled to partner with Algebra Ventures and Quona Capital, who share our vision to transform financial services in Africa through digital payments. This investment is a strong endorsement of our team, our services, and our commitment to empowering financial institutions across the continent.”
Enza’s growth aligns with Africa’s rapidly expanding digital economy, where over 60 million underserved SMEs present a significant opportunity. The platform enables financial institutions to offer tailored digital payment solutions such as domestic schemes, real-time payments, mobile money, and BNPL services. By supporting banks and fintechs in reaching larger markets, Enza aims to boost financial inclusion while driving sustainable growth.
Algebra Ventures Managing Partner Tarek Assaad praised Enza’s leadership, stating: “The Enza team’s impressive track record in fintech has positioned them to rapidly scale across Africa’s payments landscape. We are excited to support their growth.”
Quona Capital partner Johan Bosini echoed this view, adding: “We believe Enza’s solutions will significantly enhance digital payment access for banks, fintechs, and the SMEs they serve, fostering financial inclusion across the continent.”