UAE-based fintech company Fuze has announced the successful close of a $12.2 million Series A funding round, led by Galaxy and e& capital, with additional backing from Further Ventures. This latest round brings Fuze’s total funding to over $26 million, following its $14 million seed round in 2023.
Launched in 2023 by Mo Ali Yusuf, Arpit Mehta, and Srijan Shetty, Fuze offers digital asset infrastructure that enables financial institutions and businesses across the Middle East, North Africa (MENA), and Turkey to deliver regulated digital asset services to their customers. Since its inception, the company has processed more than $2 billion in digital asset volume.
Fuze’s offerings include a Digital Assets-as-a-Service platform, an Over-The-Counter (OTC) trading desk, and a newly introduced suite of stablecoin infrastructure solutions. The company has also expanded into payments through its FuzePay product, which recently obtained a Retail Payment Services and Card Schemes license from the UAE Central Bank.
The newly raised funds will support regional and global expansion, product development, regulatory compliance efforts, and team growth. Fuze aims to position itself as a leading provider of compliant crypto and stablecoin solutions across the region.
“Our strategic partnership with Galaxy’s deep digital asset expertise and e&’s broad regional network will accelerate our goal of helping banks, fintechs, and traditional companies integrate digital assets into their offerings,” said Mo Ali Yusuf, CEO and Co-Founder of Fuze. “We are witnessing a surge in demand, and we believe that within the next year, digital asset solutions will become standard across financial services.”
For Galaxy, a global leader in digital assets and data center infrastructure, this marks a significant step into the Middle East’s emerging crypto landscape.
“We’re excited to lead this round and support Fuze’s growth. The UAE is shaping up to be a global hub for digital asset innovation, thanks to progressive regulation and ambitious startups like Fuze,” said Leon Marshall, CEO of Galaxy Europe.
Fuze has enjoyed early support from Further Ventures, an ADQ-backed venture builder based in Abu Dhabi. Mohamed Hamdy, Managing Partner at Further Ventures, emphasized the company’s potential to become a key player in enabling digital asset businesses worldwide.
e& capital, the venture arm of global tech group e&, sees Fuze as a strategic addition to its fintech portfolio. Harrison Lung, Group Chief Strategy Officer at e&, noted strong synergies with other platforms like e& money, Wio, and Careem Pay.
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