Enza, an African Fintech platform managed to obtain an investment in seeds in seeds of 6.75 million dollars Co-Algebra Ventures and Quona Capital.
This funding marks the first external funding for Enza and should accelerate its mission to “free the world of payments for a more inclusive trade and led by the opportunity through the African continent.
Complete ENZA solutions allow banks and fintechs to provide seamless and locally relevant payment capacities, including cards, wallets and real -time payments. The infusion of capital will allow ENZA to strengthen its presence on the main markets in Africa, to promote deeper partnerships and to improve responsiveness to the localized needs of its growing customers.
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Speaking on the investment, Hany Fekry, CEO of Enza, said,
“We are delighted to associate ourselves with Algebra Ventures and Quona Capital, who share our vision of the potential for transforming financial services into Africa by digitizing payments. This investment is a solid approval of our team, our advanced services and our commitment to empower banks and financial technologies to stimulate financial inclusion through the continent ”.
Also commenting, Tarek Assaad, director partner at Algebra Ventures, said,
“Enza is exceptionally well positioned to transform the ecosystem of payments into Africa by offering the essential infrastructure whose banks and fintechs need to succeed. are delighted to support the team in their exciting journey. »»
Founded by a team of experienced experts, Enza is committed to providing agile, innovative and secure payment solutions designed specifically for unique African challenges. The platform’s mission is to release payments through the African continent, for a more prosperous and financially inclusive Africa.
Enza currently operates in South Africa and Egypt, and plans to start Nigeria soon. The platform estimates that good payment capacity has the power to release the world of rapid evolution, for a more intelligent, insightful and inclusive future. The platform is associated with giant payment brands such as Visa, Terrapay and Compass Plus Technologies.
Last month, Enza announced a partnership with Entersekt, a world leader in financial authentication. This collaboration strengthens its commitment to improve the safety of payments and the prevention of fraud, guaranteeing unfailing digital banking experiences.
By integrating Context Aware ™ authentication in Enterekt into the ENZA technological suite, it allows fintech to allow banks to fight fraud with advanced and multi-faters, including OTP, biometrics and authentication based on risks in the 3D secure ecosystem.
Its recent partnership with Algebra Ventures and Quona Capital is strengthening the company’s objective to meet the challenges and opportunities presented by the African population with rapid and digital connected.
With more than 60 million SMEs in bad shape across the continent and a largely sub-banned population, Enza already has a significant impact by allowing financial institutions to differentiate themselves and to attract new customers with relevant products on the market. The Enza platform provides the basics of these customers and then selling other financial services products by taking advantage of the intelligence generated by underlying data.
The use cases of existing customers include the activation of digital payment options such as national schemes, real -time payment services, mobile money and BNPL, as well as international payment schemes, unlocking value for customers and consumers of Enza in several African countries.
