Digital Assets Startup Fuze Raises $14 Million Seed Round
This record-breaking seed round is the largest seed investment in a digital assets startup in the MENA region.
Fuze, a UAE-based assets infrastructure provider, has raised a $14 million seed round led by Abu Dhabi-based Further Ventures, with participation from US-based Liberty City Ventures. This is the largest seed investment in a digital assets startup in the MENA region.
Founded in 2022 by Mohammed Ali Yusuf, Arpit Mehta and Srijan Shetty, Fuze aims to enable banks, fintech startups and traditional enterprises to offer regulated digital asset products to their customers. Its applications, such as Fuze Trader and Fuze Loyalty, allow banks, brokerages and superapps to offer digital asset products in an easy and secure manner.
“We are building a suite of products that addresses the growing demand for regulated digital asset capabilities through trusted channels. Our technology-first approach is a game-changer for the region and offers our customers a reliable bridge to the new era of investments and to the future of finance,” Mohammed Ali Yusuf tells StartupScene.
The digital asset market in the MENA region is worth $566 billion, and is rapidly growing at 48% YoY, according to WAMDA. The newly-acquired funding will allow Fuze to expand as it obtains regulatory licensing, brings new talent to the team and works to expand its technological capabilities.
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Nov 27, 2023