Algebra Ventures and Quona Capital lead $6.75m investment in Enza
Enza, an Africa-focused payment solutions company, has secured $6.75 million in a seed equity round.
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Enza, an Africa-focused payment solutions company, has secured $6.75 million in a seed equity round co-led by Algebra Ventures and Quona Capital.
Enza’s payment solutions empower banks and fintechs to provide seamless, locally relevant payment capabilities, including cards, wallets, and real-time payments.
The capital infusion will enable Enza to strengthen its presence across key markets in Africa, fostering deeper partnerships, and improving responsiveness to the localised needs of its growing client base.
“We are thrilled to partner with Algebra Ventures and Quona Capital, who share our vision of the potential to transform financial services in Africa through the digitisation of payments,” said Hany Fekry, CEO of Enza. “This investment is a strong endorsement of our team, our market-leading services, and our commitment to empowering banks and fintechs to drive financial inclusion across the continent.”
“Enza is exceptionally well-positioned to transform Africa’s payments ecosystem by delivering the essential infrastructure that banks and fintechs require for success,” said Tarek Assaad, managing partner at Algebra Ventures. “The Enza leadership team have an impressive track record of starting, growing and exiting fintech businesses across the continent. Enza was uniquely capable of hitting the ground running as a pan-African payments player from the outset and is experiencing remarkable growth across its product offering. We are delighted to support the team on their exciting journey.”
“Quona is excited to support this experienced team on its journey to have a significant impact driving financial inclusion through seamless access to digital payments for banks, fintechs, and ultimately the SMEs they aim to serve,” added Johan Bosini, partner at Quona Capital.
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