Digital-assets-as-a-service startup Fuze secures $12.2M from Galaxy, e& Capital
The startup plans to use the fresh capital to expand across existing and new international markets, including India.
Digital assets infrastructure startup Fuze has raised $12.2 million in a Series A funding round led by Galaxy, and UAE-based e&.
The company plans to use the fresh funds for expansion across existing and new international markets, it said in a statement. Fuze also plans to use the capital to accelerate product innovation and compliance, and support top-tier hiring.
While the company currently operates in MENA and Turkey, it is eyeing expansion into the Indian market. Fuze is actively engaging with regulators and policymakers to navigate the evolving crypto regulatory landscape in the country, it said in a statement.
“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. We are seeing a huge surge in demand and we believe that in the near future, every financial institution and business will leverage some type of crypto or stablecoin capability,” said Arpit Mehta, Founder, Fuze.
Founded by Mehta, Srijan R Shetty, and Mo Ali Yusuf in 2023, Fuze provides digital-assets-as-a-service infrastructure, which enables financial institutions and businesses to offer regulated digital assets to their clients.
Additionally, the startup has also launched a full suite of stablecoin infrastructure products and recently announced its expansion into payments.
“The region 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,” Leon Marshall, CEO of Galaxy Europe.
Edited by Kanishk Singh