Latest news with #enza
Finextra
10 hours ago
- Business
- Finextra
Mastercard collaborates with enza to boost fintech innovation across Africa
Mastercard and enza – a payment solutions company – have collaborated to connect fintech companies across Africa to the Mastercard network. This collaboration will enable fintech players to build propositions on the enza platform that serve both consumers and businesses with embedded Mastercard payment solutions capabilities. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. According to a report by the European Investment Bank, the number of fintech companies in Africa has nearly tripled since 2020. Many of these innovators focus on embedding payment services into broader solutions that tackle financial access, offering alternatives to legacy systems that often have a high cost to serve. Fintech companies in Africa will now be able to easily access the full suite of Mastercard services. The collaboration aims to reduce complexity and speed up time to market for emerging players building digital financial solutions across the continent. 'At Mastercard, we are focused on powering the fintech ecosystem by enabling access to our trusted global network. Through our work with enza, fintech innovators in Africa will be able to deploy embedded payment capabilities more efficiently – helping accelerate financial inclusion and the region's digital transformation,' said Mete Guney, executive vice president, Market Development, EEMEA, Mastercard. As part of the agreement, enza will host consumer and merchant accounts, manage integration with Mastercard's network, and ensure high levels of security and system availability. Fintech companies can configure pre-paid or post-paid accounts, and issue physical or virtual Mastercard cards. For businesses, enza will enable acceptance of Mastercard payments across in-store, online and in-app channels. 'enza is on a mission to make digital payments more accessible and affordable across Africa, helping to build a more financially inclusive continent that is ready and able to compete globally. Our collaboration with Mastercard leverages our existing relationship to more effectively serve the fintech community. Together, we will provide innovators with a platform capability that means they do not need to build this aspect of their proposition and can get to market with greater speed and security,' said Andrew Key, Executive Director, enza. Founded in 2023, enza is headquartered in Abu Dhabi, with regional offices in Egypt, South Africa and Nigeria. The company's innovative payment infrastructure delivers the flexibility and agility needed to increase competitiveness, capitalize on new markets and develop new revenue streams through better serving consumer and business customers across Africa.
Zawya
a day ago
- Business
- Zawya
Mastercard and enza collaborate to enable fintech innovation across Africa
Dubai, UAE: Mastercard and enza – a payment solutions company – have collaborated to connect fintech companies across Africa to the Mastercard network. This collaboration will enable fintech players to build propositions on the enza platform that serve both consumers and businesses with embedded Mastercard payment solutions capabilities. According to a report by the European Investment Bank, the number of fintech companies in Africa has nearly tripled since 2020. Many of these innovators focus on embedding payment services into broader solutions that tackle financial access, offering alternatives to legacy systems that often have a high cost to serve. Fintech companies in Africa will now be able to easily access the full suite of Mastercard services. The collaboration aims to reduce complexity and speed up time to market for emerging players building digital financial solutions across the continent. 'At Mastercard, we are focused on powering the fintech ecosystem by enabling access to our trusted global network. Through our work with enza, fintech innovators in Africa will be able to deploy embedded payment capabilities more efficiently – helping accelerate financial inclusion and the region's digital transformation,' said Mete Guney, executive vice president, Market Development, EEMEA, Mastercard. As part of the agreement, enza will host consumer and merchant accounts, manage integration with Mastercard's network, and ensure high levels of security and system availability. Fintech companies can configure pre-paid or post-paid accounts, and issue physical or virtual Mastercard cards. For businesses, enza will enable acceptance of Mastercard payments across in-store, online and in-app channels. 'enza is on a mission to make digital payments more accessible and affordable across Africa, helping to build a more financially inclusive continent that is ready and able to compete globally. Our collaboration with Mastercard leverages our existing relationship to more effectively serve the fintech community. Together, we will provide innovators with a platform capability that means they do not need to build this aspect of their proposition and can get to market with greater speed and security,' said Andrew Key, Executive Director, enza. Founded in 2023, enza is headquartered in Abu Dhabi, with regional offices in Egypt, South Africa and Nigeria. The company's innovative payment infrastructure delivers the flexibility and agility needed to increase competitiveness, capitalize on new markets and develop new revenue streams through better serving consumer and business customers across Africa. About Mastercard Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
Al Bawaba
2 days ago
- Business
- Al Bawaba
Mastercard and enza collaborate to enable fintech innovation across Africa
Mastercard and enza – a payment solutions company – have collaborated to connect fintech companies across Africa to the Mastercard network. This collaboration will enable fintech players to build propositions on the enza platform that serve both consumers and businesses with embedded Mastercard payment solutions to a report by the European Investment Bank, the number of fintech companies in Africa has nearly tripled since 2020. Many of these innovators focus on embedding payment services into broader solutions that tackle financial access, offering alternatives to legacy systems that often have a high cost to companies in Africa will now be able to easily access the full suite of Mastercard services. The collaboration aims to reduce complexity and speed up time to market for emerging players building digital financial solutions across the continent.'At Mastercard, we are focused on powering the fintech ecosystem by enabling access to our trusted global network. Through our work with enza, fintech innovators in Africa will be able to deploy embedded payment capabilities more efficiently – helping accelerate financial inclusion and the region's digital transformation,' said Mete Guney, executive vice president, Market Development, EEMEA, part of the agreement, enza will host consumer and merchant accounts, manage integration with Mastercard's network, and ensure high levels of security and system availability. Fintech companies can configure pre-paid or post-paid accounts, and issue physical or virtual Mastercard cards. For businesses, enza will enable acceptance of Mastercard payments across in-store, online and in-app channels.'enza is on a mission to make digital payments more accessible and affordable across Africa, helping to build a more financially inclusive continent that is ready and able to compete collaboration with Mastercard leverages our existing relationship to more effectively serve the fintech community. Together, we will provide innovators with a platform capability that means they do not need to build this aspect of their proposition and can get to market with greater speed and security,' said Andrew Key, Executive Director, enza. Founded in 2023, enza is headquartered in Abu Dhabi, with regional offices in Egypt, South Africa and Nigeria. The company's innovative payment infrastructure delivers the flexibility and agility needed to increase competitiveness, capitalize on new markets and develop new revenue streams through better serving consumer and business customers across Africa.
Yahoo
24-03-2025
- Business
- Yahoo
Fintech firm enza raises $6.75m in seed funding
Enza, a payment solutions provider focused on Africa, has secured $6.75m in a seed funding round, jointly led by Algebra Ventures and Quona Capital. The payments firm serves banks and fintech companies, helping them offer region-specific capabilities such as cards, digital wallets, and real-time payment services. Its offerings are claimed to lower transaction costs, enabling clients to expand their market reach and build the foundation for broader financial service offerings. With the fresh infusion, enza aims to bolster its footprint in key African markets, build stronger alliances, and better cater to the diverse needs of its growing customer base. This investment represents enza's first external funding and will support the company in its efforts to drive inclusive commerce across Africa. Enza CEO Hany Fekry said: '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. '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.' The backing from Algebra Ventures and Quona Capital further aligns with enza's ambition to address the challenges and opportunities presented by Africa's rapidly expanding, digitally connected population. Algebra Ventures managing partner Tarek Assaad said: 'enza is exceptionally well-positioned to transform Africa's payments ecosystem by delivering the essential infrastructure that banks and fintechs require for success. '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.' "Fintech firm enza raises $6.75m in seed funding" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Wamda
24-03-2025
- Business
- Wamda
enza secures $6.75 million seed to further expand in Africa
UAE-based fintech enza has secured a $6.75 million seed equity round, co-led by Algebra Ventures and Quona Capital. Founded in 2023 by Hany Fekry, enza's payment solutions allow banks and fintechs to provide locally relevant payment capabilities, including cards, wallets, and real-time payments. With a presence in Egypt, Nigeria and South Africa, the new capital infusion will enable enza to strengthen its presence across other key markets in Africa. Press release: enza, a leading innovator in African payment solutions, announced today that it has secured a $6.75 million investment in a seed equity round co-led by Algebra Ventures and Quona Capital. This milestone marks the first external funding for enza and will accelerate the company's mission to 'liberate the world of payments for more inclusive, opportunity-led commerce' across the African continent. enza's comprehensive 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. Founded by payments industry stalwarts with accomplished careers in both global and African payments, enza is harnessing this market experience, knowledge, and track record to unlock opportunities for its clients in Africa. The business has already demonstrated the ability to tackle local market problems with innovative payment services that can reduce the cost of digital transactions. '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 are liberating payments across the African continent with the mission to enable more inclusive, opportunity-led commerce. enza empowers African banks, fintechs, and financial institutions with market-leading capabilities and innovation to differentiate themselves in their market. The enza services reduce the cost of transacting, thereby enabling their clients to profitably serve larger target markets and establish the foundations of broader financial services relationships. Strategic Partnerships for Growth The partnership with Algebra Ventures and Quona Capital reinforces enza's goal to address the challenges and opportunities presented by Africa's fast-growing, digitally connected population. With over 60 million underserved SMEs across the continent and a largely underbanked population, enza is already making a significant impact by enabling financial institutions to differentiate themselves and to profitably attract new customers with market-relevant products. The enza platform provides the foundation for these clients to then cross-sell other financial services products by leveraging the intelligence generated by the underlying data. Existing client use cases include the enablement of digital payment options such as domestic schemes, real-time payment services, mobile money, and BNPL, alongside the international payment schemes, unlocking value for enza's customers and Consumers and Businesses in multiple African countries. "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.
