Dubai-based Enza has raised $6.75 million in investment from a round co-led by Algebra Ventures and Quona Capital to expand embedded payment solutions across Africa.
Enza’s payment solutions enable banks and fintech companies to offer local payment services, such as card issuance, digital wallets, and real-time payments, across African markets.
Enza serves both the issuing side for banks and fintech companies and the acceptance side for small and medium-sized enterprises (SMEs) and merchants.
The company currently operates in Egypt, Nigeria, and South Africa, with plans to expand into other key markets across Africa.
Enza CEO Hany Fekry made the following statement regarding the raised investment:
“This investment is a strong vote of confidence in our team, our market-leading solutions, and our commitment to empowering banks and fintech companies to advance financial inclusion across the continent.”