Fuze, a digital assets infrastructure firm operating in the Middle East and Turkey, has closed a US$12.2 million Series A funding round.
The round was led by Galaxy, a global digital assets and data centre infrastructure company, and e& capital, the investment arm of technology group e&.
Founded in 2023, Fuze provides Digital Assets-as-a-Service infrastructure to financial institutions and businesses in the MENA region and Turkey.
Its offerings include regulated digital asset services, an over-the-counter (OTC) trading desk, and a recently launched suite of stablecoin infrastructure products.
The firm has also expanded into the payments sector through its FuzePay platform.
The funding will support the company’s international expansion, further product development, compliance efforts, and recruitment.
Mo Ali Yusuf, CEO and co-founder of Fuze, said:
“Strategically, Galaxy’s comprehensive digital asset capabilities and e&’s network will fast-track our mission to enable any bank, fintech or traditional business to integrate digital assets. We are seeing a significant increase in demand and believe that in the next 12 months, every financial institution and business will use some form of crypto or stablecoin capability.”
Leon Marshall, CEO of Galaxy Europe, commented: “We are pleased to partner with Fuze and lead this round. The Middle East is emerging as a key centre for innovation, particularly as the UAE develops regulatory frameworks for digital assets.”
Fuze has been backed since its inception by Further Ventures, a venture builder supported by ADQ.
Mohamed Hamdy, Managing Partner at Further Ventures, said:
“This funding round is a milestone for Fuze. We welcome new investors such as Galaxy and e& capital, and continue to support Fuze’s ambition to become a major player in global digital asset infrastructure.”
Over the past year, Fuze has processed more than US$2 billion in digital asset volume through its platform.
The firm says it has worked with regulators to ensure compliance and partnered with established financial institutions in the region.
Featured image: Mohammed Ali Yusuf, Arpit Mehta, Srijan Shetty
