Enza, a payments infrastructure provider serving banks and fintech companies across Africa, has raised $6 million in a funding round led by 4DX Ventures, as investors bet on growing demand for technology to modernize the continent’s financial system.
British International Investment, the UK’s development finance institution, joined the Seed+ round as a new investor, while existing backers Quona Capital and Algebra Ventures increased their stakes, the Abu Dhabi-based company said in a statement on November 3.
The investment will finance Enza’s expansion into new African markets, help secure additional regulatory licenses and support the development of payment products for banks seeking to reduce costs and compete with digital-first financial services providers.
Founded in 2023, Enza operates across 12 African countries, with regional offices in Egypt, South Africa, Ghana and Nigeria. Its technology allows banks and fintech companies to process transactions, manage merchant payments and introduce digital financial services without building their own infrastructure.
The funding underscores growing investor interest in the technology underpinning Africa’s digital payments industry, where banks are under pressure to replace aging systems as mobile money, online commerce and electronic transactions reshape how consumers and businesses move money.
While much of Africa’s fintech investment has historically targeted consumer-facing services such as mobile wallets and digital lending, infrastructure providers are seeking to capture spending by banks modernizing their payment networks.
“Payments in Africa have moved well beyond cards and are truly omni-channel today, yet the infrastructure on which banks depend has not kept pace,” said Daniel Marlo, managing partner at 4DX Ventures.
“Enza enables banks to modernise via a single integration to enza’s platform while allowing banks to retain control of their merchants and their data.”
Enza provides merchant acquiring, online payment gateways, ATM processing, fraud detection and revenue optimization services. Its platform is designed to help financial institutions introduce payment products more quickly while maintaining control over customer relationships and transaction data.
The company is targeting a market where replacing core payments technology can involve significant costs, lengthy implementation periods and regulatory scrutiny. Banks have traditionally relied on established processing companies, but newer providers are offering alternatives designed to support multiple payment channels through a single technology platform.
“Since our launch, we have been building the payments infrastructure partner African banks and fintechs have been missing,” said Hany Fekry, Enza’s group chief executive officer. “Our existing investors have seen us deliver, and they have put more capital behind us to accelerate our growth.”
The company plans to prioritize countries where governments and regulators are encouraging the adoption of digital payments, while obtaining licenses needed to serve additional financial institutions.
Enza has already expanded its presence in Ghana, securing an enhanced payment service provider license in June before formally launching operations in September. The company also announced a partnership with fraud prevention technology provider Fraudio that month.
The participation of British International Investment adds development finance backing to Enza’s expansion strategy, reflecting efforts to lower the cost of digital financial services and improve access for small businesses.
“Enza provides banks and financial institutions with the modern payments infrastructure that they need to reduce costs, broaden payment options, and expand access to affordable and reliable financial services across developing markets,” said Chirantan Patnaik, head of disruptive ventures at BII.
“Our investment in enza reflects our focus on inclusive finance and supporting SMEs by tackling a major barrier: the high cost and complexity of digital payments infrastructure.”
Enza’s founders previously helped build a payments processing business serving banks in more than 40 African markets, according to 4DX Ventures. The investors are betting that the team’s experience navigating banking relationships and regulatory requirements will help the company expand in a fragmented market.
The latest financing follows a seed round co-led by Quona Capital and Algebra Ventures in 2025. Enza didn’t disclose its valuation, the size of its earlier round or the individual contributions of investors in the latest fundraising.
The new capital positions Enza to compete for a larger share of spending by African banks and fintech companies seeking to upgrade their payments infrastructure, as investors increasingly look beyond consumer applications to the technology that powers the continent’s financial transactions.