UAE-based fintech Fuze has raised $12.2 million in a Series A funding round led by Galaxy and e& capital, with participation from Further Ventures, the company announced on Wednesday. The round takes its total funding to over $26 million. The Dubai-headquartered startup raised $14 million in a seed round in 2023.
Founded in 2023 by Mo Ali Yusuf, Arpit Mehta, and Srijan Shetty, Fuze provides digital asset infrastructure enabling financial institutions and businesses across MENA and Turkey to offer regulated digital assets to their clients. The startup has processed over $2 billion in digital asset volume since launch.
Fuze’s solutions include Digital Assets-as-a-Service infrastructure, an Over-The-Counter (OTC) trading desk, and a recently launched suite of stablecoin infrastructure products. The company has also expanded into payments through FuzePay, which recently secured a Retail Payment Services and Card Schemes license from the UAE Central Bank.
The fresh capital will fuel Fuze’s regional and global expansion, accelerate product innovation and compliance efforts, and support hiring plans as the company positions itself as a leading enabler of regulated crypto and stablecoin adoption in the region.
“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,” said Mo Ali Yusuf, CEO and Co-Founder at Fuze. “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.”
For Galaxy, a global leader in digital assets and data center infrastructure, the investment represents a strategic entry into the Middle East’s growing digital asset ecosystem.
“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,” said Leon Marshall, CEO of Galaxy Europe.
Fuze has been backed from inception by Further Ventures, an ADQ-backed venture builder and investment firm based in Abu Dhabi. Mohamed Hamdy, Managing Partner at Further Ventures, noted that the company is “poised to become a dominant force in enabling digital asset businesses around the world.”
e& capital, the venture capital arm of global technology group e&, sees potential synergies between Fuze and its existing fintech portfolio. Harrison Lung, Group Chief Strategy Officer at e&, highlighted “a natural synergy between Fuze and our fintech portfolio, from e& money to Wio and Careem Pay.”
- Saudi’s Orbii raises $3.6 million in Prosus-led seed to help banks and fintechs launch SME lending - September 8, 2025
- Egypt’s TradeHub shuts down, returns remaining capital to investors after failing to achieve product-market fit - September 7, 2025
- Dubai’s WheelsOn raises $12.5 million in debt and equity for its deposit-free car rental platform - September 7, 2025
