Fuze, the fast-growing digital assets infrastructure startup based in the Middle East, has closed a USD 12.2 million (~INR 103 crore) Series A funding round. The investment was co-led by Galaxy, a global digital assets and data infrastructure giant, and e& Capital, the investment arm of the UAE-based technology conglomerate e& (formerly Etisalat).
Founded in 2023 by Mo Ali Yusuf, Arpit Mehta, and Srijan R Shetty, Fuze is charting a course in the regulated digital asset services landscape across Middle East, North Africa (MENA), Turkey, and soon India. The company’s platform offers a Digital-Assets-as-a-Service (DAaaS) solution, allowing banks, fintechs, and traditional enterprises to integrate products such as stablecoins, cryptocurrencies, central bank digital currencies (CBDCs), and tokenised assets into their operations.
A Big Bet on Regional and Global Expansion
The new capital will fuel Fuze’s international expansion, including entry into the Indian market, where it is engaging with regulators to navigate the evolving cryptocurrency landscape. The funds will also accelerate product development, regulatory compliance and hiring of senior talent to support the next phase of growth.
“We are seeing huge demand and we believe in the next 12 months every financial institution and business will use some type of crypto or stablecoin capability,” said Mo Ali Yusuf, CEO and Co-founder at Fuze. “With Galaxy’s global expertise and e&’s network of unparalleled reach and resources, we will fast-track our mission to enable seamless integration of digital assets across traditional financial services.”
New Backers and Strategic Vision
The round is a significant milestone for Fuze, with new strategic investors joining the company’s existing backers. Further Ventures, an ADQ-backed venture builder and an early investor in Fuze, reaffirmed its investment in this round. The firm had previously led Fuze’s USD 14 million (~INR 118 crore) seed round in 2023, alongside Liberty City Ventures.
Leon Marshall, CEO of Galaxy Europe, said: “The Middle East is becoming a major innovation hub and the UAE’s forward-thinking approach to digital assets aligns perfectly with Fu’s vision.”Harrison Lung, Group CEO at e&.
Market Impact and Infrastructure Milestones
In just over a year since its founding, Fuze has processed more than USD 2 billion (~INR 16,905 crore) in digital asset transactions via its integrated infrastructure. The company provides services such as compliance licenses, wallets, liquidity, and OTC trading desks, taking the burden of back-end complexity off its clients.
Notably, Fuze recently launched a comprehensive suite of stablecoin infrastructure products and has made its initial foray into payments through FuzePay, further broadening its B2B2C offerings.
Co-founder Arpit Mehta stated, “In four to five years, every company will run part of its operations on crypto or stablecoins. We offer a fully regulated infrastructure, letting our clients focus on the front-end user experience.”
Eyes on India
India, with its vast digital population and rapidly evolving fintech ecosystem, represents the next frontier. Fuze’s founders, all with Indian roots and global corporate experience at firms such as Goldman Sachs, Visa, Microsoft, and Checkout.com, view the market as a critical step in their growth roadmap.
However, entry into India is being approached cautiously. “We’re a regulatory-first company. We’re in active conversations with Indian regulators, seeking full clarity before making any move,” said Mehta.
Looking Ahead
As the regulatory tide continues to shift globally and institutions increasingly embrace blockchain-based financial solutions, Fuze stands at a crucial intersection—bridging traditional finance with the digital asset future. With robust funding, influential strategic partners, and a solid product foundation, Fuze is poised to become a key enabler of compliant, scalable digital asset solutions not only in the MENA region but across emerging global markets.
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