Enza Raises $6M to Provide Digital Payment Infrastructure in Africa
TLDR
- Dubai-based startup Enza, founded by ex-Network International executives Hany Fekry and Hamish Houston, aims to redefine financial infrastructure in Africa
- Launched in January 2023, Enza has raised $6 million in seed funding led by Algebra Ventures and Quona Capital
- The platform integrates local and global card schemes, real-time payments, wallets, and QR codes, targeting underserved small businesses in Egypt, Nigeria, and South Africa
Dubai-based startup Enza, founded by ex-Network International executives Hany Fekry and Hamish Houston, aims to redefine financial infrastructure in Africa. Launched in January 2023, Enza has raised $6 million in seed funding led by Algebra Ventures and Quona Capital.
Enza offers payment infrastructure for banks and fintech, covering issuance and acceptance. The platform integrates local and global card schemes, real-time payments, wallets, and QR codes, targeting underserved small businesses in Egypt, Nigeria, and South Africa. With over 10 million monthly contracted transactions across six African markets, Enza charges banks on a per-transaction model. Volumes are growing 35–40% month over month.
Unlike their former employer Network International, which focused heavily on merchant acquiring, Enza is building infrastructure for banks to regain market share from fintechs. The startup supports banks with compliance, transparency, and expanded payment options, aiming for 30–40 strategic partnerships rather than scale.
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Key Takeaways
Enza enters a competitive fintech space with a distinct strategy: empowering banks to compete by offering infrastructure that connects payment systems, enables broader product layers, and provides visibility across the transaction chain. As Africa's digital economy grows, banks and fintech increasingly need unified platforms that support everything from cards to mobile wallets to real-time payments. Enza’s model of enabling both sides of the transaction and focusing on quality relationships gives it a strong foundation for scaling sustainably across the continent.
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