Fuze Secures $12.2 Million to Expand Regulated Digital Asset Infrastructure into India
Fuze, a UAE-based digital assets infrastructure startup, has raised $12.2 million in a Series A funding round led by Galaxy and e& capital, the investment arm of global technology group e&. This investment aims to accelerate Fuze’s expansion into key markets, including India, and enhance its product development and leadership team.
What Is Fuze?
Fuze is a digital assets infrastructure provider that enables banks, fintech companies, and enterprises to offer regulated digital asset products to their customers through native applications. By offering white-label solutions, Fuze simplifies the complexities of blockchain technology and regulatory compliance, allowing institutions to integrate digital assets such as cryptocurrencies, stablecoins, and tokenized assets into their services.
Investors Behind the Series A Round
- Galaxy: A prominent investment firm specializing in digital assets and blockchain technology.
- e& capital: The venture capital and investment arm of global technology group e&, focusing on innovative technology startups.
These investors bring strategic capital and expertise to Fuze, supporting its mission to build the future of regulated financial infrastructure and digital assets.
Expansion Plans into India
The Series A funding will enable Fuze to:
- Enter the Indian Market: Establish a presence in India, a rapidly growing market for digital assets and fintech services.
- Accelerate Product Development: Enhance existing products and develop new solutions to meet the evolving needs of financial institutions.
- Strengthen Leadership Team: Recruit top talent to drive innovation and operational excellence.
India’s burgeoning fintech ecosystem and increasing adoption of digital assets present significant opportunities for Fuze to expand its offerings and cater to a diverse customer base.
Previous Funding and Growth Trajectory
Prior to this Series A round, Fuze raised $14 million in a seed funding round in 2023, led by Further Ventures and Liberty City Ventures. This earlier investment marked the largest seed funding for a digital assets infrastructure startup in the Middle East and North Africa region. The combined funding of over $26 million positions Fuze for substantial growth and expansion into new markets.
Leadership Team
Fuze was founded in December 2022 by a team of experienced professionals:
- Mohammed Ali Yusuf (CEO): Former roles at Checkout.com and Visa.
- Arpit Mehta (COO): Leadership positions at fintech companies Simpl and Clear.
- Srijan Shetty (CTO): Experience in building algorithmic trading systems at Goldman Sachs and Microsoft.
Their diverse backgrounds in fintech, traditional finance, and decentralized finance (DeFi) provide Fuze with a unique perspective and expertise in developing regulated digital asset infrastructure.
Strategic Partnerships and Collaborations
Fuze has formed several strategic partnerships to enhance its offerings:
- Partnership with Fils: Launched the first digital asset sustainability solution in the region, integrating blockchain-powered solutions to measure and offset the carbon footprint of digital asset transactions.
- Collaboration with Bit2Me: Connected digital assets infrastructure across the Middle East, Europe, and Latin America, expanding market access and liquidity capabilities.
- Integration with Mastercard’s Crypto Credential Solution: Enabled secure and seamless cryptocurrency transactions in the UAE, enhancing transaction security and user trust.
These collaborations demonstrate Fuze’s commitment to innovation, sustainability, and expanding its global reach.
Future Outlook
With the Series A funding, Fuze aims to:
- Enhance Technological Capabilities: Invest in research and development to improve existing products and create new solutions.
- Expand Geographical Presence: Establish operations in India and other key markets to broaden its customer base.
- Foster Industry Leadership: Continue to lead in providing regulated digital asset infrastructure, setting standards for security, compliance, and innovation.
Fuze’s strategic initiatives position it to play a pivotal role in the evolving digital assets landscape, offering trusted solutions for financial institutions and enterprises worldwide.
