Ex-Network International execs raise $6.75M for Enza, an African fintech serving banks

Over the past decade, Dubai-based Network International has become one of the dominant payment processors across the Middle East and Africa, thanks in part to a pair of acquisitions. However, many large incumbents can fall prey to slower innovation, opening the door for smaller, faster-moving startups. The latest development is Enza, a fintech founded in 2022 by Hany Fekry, a former managing director at Network, along with another ex-Network executive Hamish Houston. The fintech, which has raised $6 million in seed funding, is building infrastructure for banks and fintechs, offering a range of local payment solutions, from cards to wallets to real-time payments. Before launching Enza, the founders managed global acceptance, processing, and consumer finance departments at Network International. While Network was building a robust payments network across the Middle East and Africa, focusing primarily on the acceptance side of things, they felt a massive gap in creating comprehensive s ... Read full article.