Most African fintech headlines are about apps people use. This one is about the pipes behind them. Enza, a payments infrastructure startup built by former Network International executives, has raised $6 million to help banks connect to cards, wallets and instant payment systems through one integration.
The Seed+ round was led by 4DX Ventures, with British International Investment (BII), the UK’s development finance institution, joining as a new investor. Quona Capital and Algebra Ventures, who co-led Enza’s $6.75 million seed round in 2025, put in more money. That takes the total disclosed funding to $12.75 million. The cash will fund entry into new markets, more licences and product work.
Enza was founded in 2022 by Hany Fekry, now Group CEO, and Hamish Houston. Both previously worked at Network International, the Dubai-listed payments processor. Their bet was that banks in Africa need modern tools to compete with fintechs, and that no one was selling those tools as one package. Enza sells a single connection that links a bank to card schemes such as Visa, Mastercard, Nigeria’s Verve, Egypt’s Meeza and South Africa’s AfriGo. The same connection reaches real-time payment systems such as Nigeria’s NIBSS, South Africa’s PayShap and Egypt’s InstaPay, along with mobile wallets and QR codes. The bank keeps control of its merchants and its data. Banks pay per transaction.
Enza says it serves clients in 12 countries and has regional offices in Egypt, South Africa, Ghana and Nigeria. It has not named its bank clients. The founders say they worked with nearly 200 banks across Africa in their previous roles at Network International and its subsidiary, DPO Group. At the time of its 2025 seed round, Enza reported more than 10 million contracted monthly transactions through live bank partners in six markets. It now says contracted monthly volumes are growing 35% to 40% a month.
That growth figure needs care. By our sums, 35% a month for a full year would multiply volumes about 37 times, and 40% a month would multiply them about 57 times. No company keeps that pace for long. It is best read as an early-stage rate from a small base, not a forecast.
The round also marks a licensing step. In June 2026, the Bank of Ghana granted Enza a Payment Service Provider Enhanced licence, the highest of its three PSP tiers. Enza launched commercial operations in Ghana in September. Fekry has called Ghana “one of the continent’s most dynamic digital finance markets.”
The mix of backers tells its own story.
| Investor | Role | Type |
|---|---|---|
| 4DX Ventures. | Led the round. | Early-stage venture capital. |
| British International Investment. | New investor. | Development finance. |
| Quona Capital. | Increased its stake. | Emerging-market fintech fund. |
| Algebra Ventures. | Increased its stake. | Egyptian venture capital. |
Two features stand out. First, both 2025 lead investors added more money instead of sitting out. That is a vote of confidence from people who have seen the company’s numbers up close. Second, a development finance institution joined. BII invested after its own ESG due diligence. Its Head of Disruptive Ventures, Chirantan Patnaik, said Enza helps banks cut costs, widen payment options and extend affordable financial services, in line with BII’s goals on inclusive finance and small businesses. Daniel Marlo, Managing Partner at 4DX, said his firm led because Enza fills “a key gap in the ecosystem and the founders have done this before.”
Why would banks buy this? Because the big fintechs took the customer relationship. Moniepoint, Nigeria’s largest merchant acquirer, processed about $294 billion in 2025, according to Launch Base Africa. Paystack and Flutterwave have also led on speed and user experience. Banks still hold the licences and the cash, but they have lost ground. Enza’s pitch is to sell to banks, not compete with them for customers. That is less costly than building a consumer brand. The catch is that banks move slowly, and selling to them takes time.
Rules are changing in ways that help. Egypt’s central bank issued payment-service rules in 2025 and gave existing players until June 2026 to comply. South Africa is moving to give regulated non-bank firms more direct access to its payment system. Both shifts widen the market. They also invite more competition. Rivals include Interswitch, which now calls itself a full-stack banking technology provider, as well as Flutterwave, Moniepoint, global processors and core banking vendors.
Several details were not disclosed: the company’s valuation, its revenue, and which banks it serves. Those are the numbers that will show whether growth in contracted volumes turns into income.
Why it matters: Africa’s payment systems are split by country, currency and scheme. A bank that wants to offer cards, instant transfers and wallets across several markets must build and license each link. A company that offers one integration saves that work. For founders, the lesson is that investors still fund “boring” infrastructure with real revenue and repeat customers, even in a tight funding year. The path is clear: sell to a customer who must keep using you, charge per use, and earn the licences that rivals will find hard to copy. For banks, the message is just as plain. Customers will not wait while you rebuild your payments stack.
What to watch next: how fast Enza turns contracted volumes into live ones and into revenue. Watch which banks it names as clients, and whether it adds licences beyond Ghana. Watch how South Africa’s and Egypt’s rule changes play out for infrastructure firms. And watch whether the Seed+ leads to a larger Series A once the company can show its numbers.
Sources: Tolulope Bamiloye, “Enza Secures $6 Million Seed+ to Modernize African Payments,” 5 November 2026; The Paypers on Enza’s Seed+ led by 4DX Ventures; Launch Base Africa on Enza and Africa’s payments plumbing; Tech In Africa on the $6M round; TechCrunch on Enza’s 2025 seed round; Tech Africa on the Bank of Ghana licence; Launch Base Africa on the Ghana payments market.
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