- Abu Dhabi-based Fuze has secured $14 million in seed funding, marking a significant milestone in the Middle East and North Africa (MENA) digital assets space.
- Fuze provides digital asset infrastructure solutions to banks, fintech firms, and traditional enterprises, enabling them to offer regulated digital asset products through their native applications.
- The investment round was led by Further Ventures and Liberty City Ventures, with strategic investors expected to play a pivotal role in Fuze’s journey.
Abu Dhabi-based company Fuze has secured an impressive $14 million in seed funding, marking a significant milestone in the digital assets space in the Middle East and North Africa (MENA) region. Fuze specializes in providing digital asset infrastructure solutions to banks, fintech firms, and traditional enterprises, enabling them to offer regulated digital asset products through their native applications.
The investment round was led by Further Ventures, headquartered in Abu Dhabi, with participation from Liberty City Ventures, a U.S.-based firm. These strategic investors are expected to play a pivotal role in Fuze’s journey, as it strives to build the digital asset infrastructure that will reshape the financial industry.
Fuze was founded by a team of experienced leaders in fintech, traditional finance, and decentralized finance (DeFi). Notable co-founders include Mohammed Ali Yusuf, the CEO, who has held significant positions at companies like Checkout.com and Visa; Arpit Mehta, the COO, with leadership experience at fintech firms like Simpl and Clear; and Srijan Shetty, the CTO, known for his expertise in building algorithmic trading systems at Goldman Sachs and his work at tech giant Microsoft.
The MENA region’s digital asset market is currently valued at $566 billion and is growing rapidly at a rate of 48% year-on-year. This growth has positioned Fuze’s CEO, Mohammed Ali Yusuf, to view the Middle East as the ideal hub for establishing a digital asset infrastructure business. He emphasized the role of regulations in propelling the UAE into a central position within the global digital assets industry.
Fuze, founded in December 2022, became a part of Hub71, Abu Dhabi’s global tech ecosystem, through its Company Building Program earlier this year. Fuze offers white label solutions that simplify blockchain complexities and regulatory compliance for enterprises. This enables them to provide a range of digital assets, including stablecoins, cryptocurrencies, central bank digital currencies (CBDCs), and tokenized assets.
The funding Fuze has secured will be instrumental in its expansion plans, which include obtaining regulatory licenses, acquiring top talent, enhancing its technology infrastructure, and expanding its geographical presence throughout the MENA region.
Notably, Fuze offers products like Fuze Trader and Fuze Loyalty, which empower banks, brokerages, and super apps to offer digital asset products in a straightforward, reliable, and trusted manner.