Fuze Raises $12.2 Million Series A Funding Round
Fuze, a digital assets infrastructure startup, has raised $12.2 million in Series A funding round, backed by Galaxy, a leading global digital assets and data infrastructure player, and e& Capital, the investment arm of UAE telecommunications behemoth e&.
The funds received will be used for global expansion, product development, regulatory requirements, and team expansion as Fuze plans to expand its operations on a global scale.
Established in 2023 by Mo Ali Yusuf, Srijan R Shetty, and Arpit Mehta, Fuze provides Digital Assets-as-a-Service infrastructure to enable banks, fintech organizations, and businesses to offer regulated digital asset products to their end-users via a B2B2C model. The platform also boasts a full range of stablecoin infrastructure and has recently diversified into the payments space.
Arpit Mehta, Fuze Founder, said, "With Galaxy's digital asset expertise and e's strategic footprint, we are well-positioned to assist banks and enterprises in seamlessly integrating digital assets. We think every financial institution will eventually have crypto or stablecoin capabilities."
Fuze's leadership group has deep backgrounds at leading companies—Arpit Mehta has been a manager at Simpl and Clear; Srijan R Shetty built trading platforms at Goldman Sachs and worked at Microsoft; and Mo Ali Yusuf formerly led critical operations at Checkout.com and VISA. Collectively, they've built a platform that allows financial institutions to rapidly and effectively introduce secure, regulated digital asset services.
Today, Fuze serves the MENA region and Turkey, having handled more than $2 billion worth of digital asset transactions. Fuze is now targeting India, actively working with local regulators to navigate the developing crypto environment.
Fuze perfectly fits our fintech ambitions—ranging from e& money to Wio and Careem Pay.
Earlier, Fuze had raised seed funding worth $14 million in September 2023, in a round topped by Further Ventures, backed by Liberty City Ventures. The recent funding takes the total funding for the company over $26 million.
Leon Marshall, Galaxy Europe CEO, had this to say, "The UAE is becoming increasingly a digital asset innovation hub globally, and Fuze leads the way with its robust infrastructure and regulatory suitability."
Harrison Lung, Group CSO of e&, said, "Fuze perfectly complements our fintech ambitions—from e& money to Wio and Careem Pay. This investment reaffirms our long-term vision to build a future-proof financial ecosystem."
The funds received will be used for global expansion, product development, regulatory requirements, and team expansion as Fuze plans to expand its operations on a global scale.
Established in 2023 by Mo Ali Yusuf, Srijan R Shetty, and Arpit Mehta, Fuze provides Digital Assets-as-a-Service infrastructure to enable banks, fintech organizations, and businesses to offer regulated digital asset products to their end-users via a B2B2C model. The platform also boasts a full range of stablecoin infrastructure and has recently diversified into the payments space.
Arpit Mehta, Fuze Founder, said, "With Galaxy's digital asset expertise and e's strategic footprint, we are well-positioned to assist banks and enterprises in seamlessly integrating digital assets. We think every financial institution will eventually have crypto or stablecoin capabilities."
Fuze's leadership group has deep backgrounds at leading companies—Arpit Mehta has been a manager at Simpl and Clear; Srijan R Shetty built trading platforms at Goldman Sachs and worked at Microsoft; and Mo Ali Yusuf formerly led critical operations at Checkout.com and VISA. Collectively, they've built a platform that allows financial institutions to rapidly and effectively introduce secure, regulated digital asset services.
Today, Fuze serves the MENA region and Turkey, having handled more than $2 billion worth of digital asset transactions. Fuze is now targeting India, actively working with local regulators to navigate the developing crypto environment.
Fuze perfectly fits our fintech ambitions—ranging from e& money to Wio and Careem Pay.
Earlier, Fuze had raised seed funding worth $14 million in September 2023, in a round topped by Further Ventures, backed by Liberty City Ventures. The recent funding takes the total funding for the company over $26 million.
Leon Marshall, Galaxy Europe CEO, had this to say, "The UAE is becoming increasingly a digital asset innovation hub globally, and Fuze leads the way with its robust infrastructure and regulatory suitability."
Harrison Lung, Group CSO of e&, said, "Fuze perfectly complements our fintech ambitions—from e& money to Wio and Careem Pay. This investment reaffirms our long-term vision to build a future-proof financial ecosystem."
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