enza Raises $6 Million Seed+ Round to Expand African Payments

What the money is for

The capital will fund expansion into additional African markets, particularly those where digitising payments is a national priority. It will also pay for the regulatory licences needed to serve more banks and fintechs there, and for further development of enza's product line.

The company argues that choosing a payments infrastructure partner is one of the biggest decisions a bank makes, since it shapes which services it can offer and which markets it can serve profitably. Switching is costly and regulators scrutinise outsourcing. Banks were long tied to legacy providers, but newer players built on modern architectures promise speed, lower operating costs and faster time to market.

"Our existing investors have seen us deliver, and they have put more capital behind us," said Hany Fekry, Group CEO of enza.

Daniel Marlo, Managing Partner at 4DX Ventures, pointed to the founders' track record: they helped build a leading payment processor serving banks in more than 40 African markets and later led processing and regional operations at one of the region's largest payments companies after it acquired their business. BII said it completed investment and ESG due diligence, and described its backing as part of a focus on inclusive finance and SMEs, tackling the high cost and complexity of digital payments infrastructure.