Enza, a newly launched fintech in 2023, aims to address significant gaps in payment solutions for banks and fintechs in Africa. Founded by former Network International executives, the startup has raised $6 million in seed funding and focuses on delivering comprehensive local payment solutions, such as cards, wallets, and real-time payments. By targeting major markets like Egypt, Nigeria, and South Africa, Enza seeks to bridge the gap between payment acceptance and broader fintech services, challenging legacy firms with a more flexible and innovative approach.
"Our divergence prompted us to take a step back and rethink how to address these underserved needs in the market," CEO Fekry told TechCrunch.
Enza is taking a broader approach, serving both sides of the transaction, unlike legacy firms focusing only on card acceptance and merchant acquiring.
The fintech, which has raised $6 million in seed funding, is building infrastructure for banks and fintechs, offering a range of local payment solutions.
The startup is initially targeting Egypt, Nigeria, and South Africa, three of the continent's largest financial markets.
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