Fuze Raises $12.2M to Boost Digital Asset Infrastructure in MENA and Turkey

Arry Hashemi

May. 02, 2025

News

Abu Dhabi-based fintech startup Fuze has successfully closed a $12.2 million Series A funding round, marking a significant milestone in its mission to revolutionize digital asset infrastructure in the Middle East and Turkey. The round was led by Galaxy, a global leader in digital assets and blockchain technology, and e& capital, the investment arm of the UAE's telecommunications giant e&. Further Ventures, an early backer of Fuze, also participated in this round.

Fuze Co-Founders Mohammed Ali Yusuf, Arpit Mehta, Srijan Shetty. (Image Source: Fuze)

Founded in December 2022 by fintech veterans Mo Ali Yusuf (CEO), Arpit Mehta (COO), and Srijan Shetty (CTO), Fuze offers a suite of services including Digital Assets-as-a-Service (DAaaS), over-the-counter (OTC) trading, and stablecoin infrastructure. The company's platform enables banks, fintechs, and traditional enterprises to integrate regulated digital asset products seamlessly into their offerings. Since its inception, Fuze has processed over $2 billion in digital asset transactions, underscoring its rapid growth and the increasing demand for digital asset solutions in the region.

We’ve raised $12M in Series A, with the support of @galaxyhq and e& capital! This marks a new chapter in building the future of financial infrastructure, secure, compliant, and ready for tomorrow’s economy. Grateful for our partners and community who make this possible. Let’s go! pic.twitter.com/4OF0bLIAUf
— Fuze (@fuzefinance) May 1, 2025

The newly acquired funds will be instrumental in accelerating Fuze's regional and international expansion, enhancing product development, and bolstering compliance measures. Additionally, the investment will support strategic hiring to strengthen the company's capabilities. Fuze's vision aligns with the broader trend of digital transformation in the financial sector, particularly in regions like the Middle East and Turkey, where regulatory frameworks are evolving to accommodate digital assets.

Mo Ali Yusuf, CEO of Fuze, conveyed strong confidence in the company’s direction, noting that the partnership with Galaxy and e& is expected to significantly accelerate their goal of helping banks, fintechs, and traditional businesses adopt digital assets.

Leon Marshall, CEO of Galaxy Europe, emphasized the strategic importance of the investment in Fuze, viewing it as a timely move aligned with the region's growing role in digital innovation. With the UAE advancing clear regulatory frameworks for digital assets and Fuze establishing itself as a key player in infrastructure development, the partnership reflects Galaxy's broader commitment to supporting fintech growth in emerging markets.

Fuze's initial seed round in September 2023 raised $14 million, the largest seed investment for a digital assets startup in the Middle East and North Africa (MENA) region. The seed round was led by Abu Dhabi-based Further Ventures, with participation from US-based Liberty City Ventures. The company's rapid growth and successful funding rounds reflect the burgeoning digital asset market in the MENA region, which is valued at approximately $566 billion and growing at a rate of 48% year-over-year.

As Fuze continues to expand its footprint, the company remains committed to working closely with regulators to ensure compliance and to provide secure, reliable digital asset services. With the backing of prominent investors and a clear strategic vision, Fuze is well-positioned to play a pivotal role in shaping the future of digital finance in the Middle East, Turkey, and beyond.