Dubai-based fintech Fuze just raised $12.2 million in a Series A round, a clear signal that the region’s digital asset infrastructure is turning heads and opening wallets.
The round, led by Galaxy and e& capital, with continued backing from Further Ventures, brings the total funding to over $26 million. Not bad for a company founded just last year.
Fuze launched in 2023 with a bold mission: to help banks, fintech, and businesses across MENA and Turkey tap into the digital assets space safely and efficiently. Think of them as the tech layer enabling everyday institutions to offer crypto and stablecoin services in a compliant, plug-and-play way.
And they are not just talking a big game. Since its launch, the startup has already processed over $2 billion in digital asset volume. Its services, from Digital Assets-as-a-Service to a regulated OTC desk and now FuzePay, a payments platform with a UAE Central Bank license, place the startup at the heart of a sector growing faster than ever.
Fuze Rise Reveals Bigger Trend in MENA
This Series A is more than a company milestone; it’s another sign of a bigger wave sweeping the region. In just the past few days, we’ve seen multiple startups across MENA secure Series A funding, which means that the ecosystem isn’t just maturing but thriving, and there’s good reason for that.
Governments across the Gulf are actively crafting regulatory frameworks, investors are pouring in with confidence, and founders are seizing the moment to build platforms that could reshape entire industries.
“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 believe that in the next 12 months, every financial institution and business will leverage some crypto or stablecoin capability,” said Mo Ali Yusuf, CEO and Co-Founder at Fuze.
That kind of future vision is why firms like Galaxy, a global digital asset powerhouse, are planting flags in the Middle East. Galaxy’s European CEO, Leon Marshall, sees the UAE as a “major hub for innovation,” citing the country’s regulatory clarity and tech-first mindset.
It isn’t just a win for the firm but another marker on MENA’s map of rising opportunity. The startup was incubated by Further Ventures, an ADQ-backed venture firm, and reflects how local capital, talent, and vision align like never before.
Mohamed Hamdy, Managing Partner at Further Ventures, said, “Fuze is poised to become a dominant force in enabling digital asset businesses globally.”
With capital in the bank and a clear roadmap, the startup is well on its way. But the real story is MENA’s startup ecosystem isn’t just catching up; it’s starting to lead.
