UAE-based payment solutions provider enza has raised $6.75m in a seed equity funding round co-led by Algebra Ventures and Quona Capital. The investment marks the company’s first external funding and will support its expansion across key African markets.
Founded in 2023 and headquartered in Abu Dhabi, enza specialises in integrated payment solutions for banks and fintechs, offering services including cards, wallets and real-time payments. With regional offices in Egypt, South Africa, and Nigeria, the company aims to enhance financial accessibility while reducing transaction costs.
In 2024, the UAE remained the top destination for startup investments in MENA, securing $1.1bn across 207 deals, with Saudi Arabia securing $700 million from 186 deals.
Gulf Economist Staff Writer