Fuze secures $14m seed round led by Further Ventures

Fuze secures $14m seed round led by  Further Ventures

The UAE-based digital assets infrastructure provider Fuze announced it secured a $14 million Seed round, led by Abu Dhabi-based Further Ventures, with participation from US-based Liberty City Ventures.

The investment is considered the largest Seed investment in a digital assets startup in the history of the Middle East and North Africa (MENA) region.

The funding will help the company build more of its talent pool, and develop its digital assets, and expand its presence.

The company is enabling fintech startups and traditional enterprises to offer regulated digital asset products to their customers through their native apps.

Fuze was founded by an expert team of fintech, traditional finance (TradFi) and decentralized finance (DeFi) leaders, with its co-founders holding extensive knowledge from experience in global hypergrowth businesses: the CEO, Mohammed Ali Yusuf (Mo Ali Yusuf) has held prominent roles at Checkout.com and Visa; Arpit Mehta (COO) was previously in the leadership team at fintech leaders like Simpl and Clear; Srijan Shetty (CTO) built algorithmic trading systems at Goldman Sachs and worked at tech leader Microsoft.

“The company has a regional digital asset market worth $566 billion, growing at 48% YoY, according to Fuze co-founder and CEO, Mohammed Ali Yusuf. 

“The Middle East is the perfect home to establish a digital assets infrastructure business, “We are excited to build the future of regulated financial infrastructure and digital assets out of the UAE. Regulations have played a pivotal role in propelling the UAE into a central position within the global Digital Assets industry. 

“To receive the backing of Abu Dhabi-headquartered Further Ventures combined with the deep expertise of US-based Liberty City Ventures, confirms the relevancy and potential of Fuze’s mission to rapidly expand our cutting-edge infrastructure across the region,” Yusuf added.

 “This is an important strategic investment into digital assets, one of our core verticals. The team at Fuze is highly experienced and has a clear vision to develop a trusted, world-class digital assets proposition. Technology that enables a range of stakeholders is vital for the future of the financial ecosystem and Fuze is well placed to be a leader in digital assets across the MENA region and beyond,” according to Further Venture.

The funding will empower Fuze’s growth as it obtains regulatory licensing, adds strategic hires in key roles, continues to expand its technological capabilities, and accelerates its geographic expansion across the region. “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,” said Yusuf.

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