Enza, a fintech startup launched by former Network International executives Hany Fekry and Hamish Houston, has secured $6 million in seed funding to overhaul the digital payment ecosystem for banks and fintechs across Africa. The round positions the startup to build scalable, locally tailored solutions for some of the continent’s most underserved financial markets.
Founded in 2022, Enza is focused on addressing a critical gap in Africa’s payment infrastructure. Its platform supports card services, mobile wallets, and real-time payments, enabling financial institutions to offer more efficient and inclusive digital services. The company aims to simplify how money is issued, moved, and accepted in a fragmented ecosystem, particularly for small and mid-sized enterprises (SMEs).
Enza’s dual-sided approach targets both financial institutions and merchants. For banks and fintechs, Enza provides tools to issue digital payment instruments and manage transactions. For SMEs, the platform offers low-cost in-person and online payment acceptance options, creating new opportunities for revenue growth and financial inclusion. This, in turn, enables institutions to upsell other services like loans, savings products, and insurance to a growing base of small business clients.
The company’s initial market focus includes Egypt, Nigeria, and South Africa—three of Africa’s most influential economies. With this seed funding, Enza plans to expand across the continent, aligning with a broader industry trend: traditional banks seeking to reclaim ground from fintech challengers by leveraging more agile, tech-forward platforms.
Enza’s mission reflects the growing demand for localized fintech solutions that can bridge the divide between legacy banking systems and the digital economy. As African markets continue to leapfrog in mobile and payment adoption, Enza is well-positioned to play a pivotal role in shaping the continent’s next wave of financial innovation.
