Fuze, a digital assets infrastructure firm, has raised $12.2 million in a Series A funding round led by Galaxy, a global digital assets and data centre infrastructure, and e& Capital, the venture capital and investment arm of global technology group e&.
The fresh funds raised will be used for regional and international expansion, accelerate product innovation and compliance, and support top-tier hiring.
Founded in 2023 by Arpit Mehta, Srijan R Shetty, and Mo Ali Yusuf, Fuze provides Digital Assets-as-a-Service infrastructure enabling financial institutions and businesses across MENA and Turkey to offer regulated digital assets to their clients, as well as an Over-The-Counter (OTC) trading desk. In addition, Fuze has now launched a full suite of stablecoin infrastructure products and recently announced its expansion, through FuzePay, into payments.
Fuze partners with leading global and regional banks, fintech, financial institutions, and super apps, to offer innovative crypto and digital asset products through its API infrastructure in a regulatory and compliant way.
Fuze has worked closely with global regulators to ensure compliant digital asset services and partnered with leading financial institutions. In the last year, the business has processed over $2 billion in total digital asset volume through its Digital Assets as a Service platform, stablecoin infrastructure, and OTC.
Mo Ali Yusuf, CEO and Co-Founder at Fuze, said, “Strategically, Galaxy’s comprehensive digital asset capabilities and e&’s unparalleled network will fast-track our mission to enable any bank, fintech or traditional business to seamlessly integrate digital assets and accelerate regional digital asset adoption. We are seeing a huge surge in demand and we believe that in the next 12 months, every financial institution and business will leverage some type of crypto or stablecoin capability.”
Leon Marshall, CEO of Galaxy Europe, said, “We are thrilled to partner with Fuze and lead this Series A round. The Middle East is poised to become a major hub for innovation, with the UAE demonstrating a willingness to develop comprehensive regulatory frameworks for digital assets and Fuze rapidly advancing its digital assets infrastructure.”
Mohamed Hamdy, Managing Partner at Further Ventures, said, “This fundraising round marks an important milestone for Fuze, a company that Further Ventures has backed since inception. We’re proud to welcome leading global investors – including Galaxy, e& Capital, and others – to join us on this journey. We believe Fuze is poised to become a dominant force in enabling digital asset businesses around the world.”
Harrison Lung, Group Chief Strategy Officer at e&, said, “With our investment in Fuze, we’re excited to align with a team that’s setting the benchmark for what a future-ready, regulated digital asset ecosystem can look like. There’s a natural synergy between Fuze and our fintech portfolio, from e& money to Wio and Careem Pay. And this investment is about backing bold companies who understand the long game, building digital assets infrastructure to supercharge the next wave of financial services innovation.”
