Enza raises $6 million Seed+ round led by 4DX Ventures

Enza, a payments infrastructure company serving banks and fintechs across Africa, has raised a $6 million Seed+ round, Launch Base Africa reports. The round was led by 4DX Ventures, an early-stage venture capital firm focused on Africa and the Middle East. British International Investment (BII), the UK’s development finance institution, joined as a new investor. Existing investors Quona Capital and Algebra Ventures also increased their positions.

Founded in 2022 by former executives of Network International, Enza aims to provide a modern alternative to legacy providers by offering a single integration that connects banks to various payment systems, including local and global networks. The company currently serves clients across 12 countries and has regional offices in Egypt, South Africa, Ghana, and Nigeria.

Enza’s business model focuses on selling to banks rather than competing with them for end customers. Banks pay Enza on a per-transaction basis, and the company reports growing monthly transaction volumes. The new capital will be used to expand into new markets, secure additional licences, and invest in product development.

Enza’s expansion plans are influenced by the regulatory environment in its target markets. For instance, Egypt has been tightening its payments framework, while South Africa is preparing reforms that could affect the payments infrastructure market. Enza integrates with banks’ existing core systems rather than replacing them.