Fuze raises $12 million from Galaxy and e& Capital to scale its Digital Assets infrastructure - Middle East Business News and Information
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.
The Series A investment will fuel Fuze's regional and international expansion, accelerate product innovation and compliance, and support top-tier hiring.
Mo Ali Yusuf, CEO and Co-Founder at Fuze, stated, '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, added, ' 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.'
Fuze has been championed from the beginning by Further Ventures, an ADQ-backed venture builder and investment firm.
Mohamed Hamdy, Managing Partner at Further Ventures said, 'This fundraising round marks an important milestone for Fuze, a company that Further Ventures 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 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.'
Since launching in 2023, 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 assets volume through their Digital-Assets-as-a-Service platform, stablecoin infrastructure, and OTC. About Fuze:
Fuze is MENA's first-of-its-kind regulated digital assets infrastructure provider, offering financial institutions and businesses cutting-edge tools to integrate digital asset services securely and efficiently. Driven by a solutions-based approach, Fuze helps financial services providers to strategise, organise and implement digital assets infrastructure and quickly, securely launch regulated, world-class products across wealth and payments.
Fuze was founded by an expert team of fintech, traditional finance (TradFi) and decentralized finance (DeFi) leaders, with its co-founders holding extensive knowledge from experience in global hypergrowth businesses: the CEO, Mohammed Ali Yusuf (Mo Ali Yusuf) has held prominent roles at Checkout.com and Visa; Arpit Mehta (COO) was previously in the leadership team at fintech leaders like Simpl and Clear; Srijan Shetty (CTO) built algorithmic trading systems at Goldman Sachs and worked at tech leader Microsoft.
Fuze offers a Digital-Assets-as-a-Service infrastructure platform which enables banks and fintechs to embed regulated digital assets products in a B2B2C fashion. Additionally, Fuze provides an Over-The-Counter (OTC) service that supports institutions, funds, and HNIs (high-net-worth individuals) in executing large digital asset trades securely and efficiently. About Galaxy:
Galaxy (TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia.
About e& capital:
e& capital is the venture capital and investment arm of e& that invests in the ideas and people that will build a better and brighter digital future. It supports innovative tech businesses, helping them to grow and enabling significant advances that move the world forward.
e& capital invests in startups that dare to disrupt and challenge how things are done because they believe in something better. It works with brave entrepreneurs to turn their big ideas into tomorrow's leading companies. e& capital will use its deep investment and venture capital expertise to transform all technology sectors, with a focus on fintech, gaming, small and medium-sized businesses (SMB), software as a service (SaaS), HealthTech, EdTech, artificial intelligence (AI), machine learning (ML), and Web 3.0.
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