enza, a payments infrastructure provider serving banks and fintechs across Africa, has raised US$6 million in a Seed+ funding round led by 4DX Ventures.
The round also attracted new investor British International Investment (BII), the UK’s development finance institution, while existing investors Quona Capital and Algebra Ventures increased their investments.
If you have a startup you want featured on TechArena, let us know through this contact form here.
The funding will support enza’s expansion into new African markets, including securing additional regulatory licences to serve more banks and fintechs. The company will also invest in expanding its payments product portfolio and strengthening its infrastructure.
enza currently serves banking and fintech clients across 12 African countries. It provides modern payments technology designed to help financial institutions reduce operating costs, introduce new payment services and reach more markets.
“Since our launch, we have been building the payments infrastructure partner African banks and fintechs have been missing. Our existing investors have seen us deliver, and they have put more capital behind us to accelerate our growth,” said Hany Fekry, Group CEO of enza.
Daniel Marlo, Managing Partner at 4DX Ventures, said, “enza enables banks to modernise via a single integration to enza’s platform while allowing banks to retain control of their merchants and their data. 4DX led this round because we see that enza addresses a key gap in the ecosystem and the founders have done this before.”
For these and more stories, follow us on X (Formerly Twitter), Facebook, LinkedIn and Telegram. You can also send us tips or reach out at [email protected].
Also Read: Rise of Fearless Raises $1 Million to Scale African-Owned Mobile Game
