UAE – Mubasher: Abu Dhabi-headquartered digital assets infrastructure provider Fuze has raised $14 million in a Seed funding round, according to a press release.
The fundraising, which will be used to back the startup’s growth, marks the largest Seed investment in a digital assets startup in the MENA region.
Meanwhile, the funding round was led by UAE-based Further Ventures and US-headquartered Liberty City Ventures.
Fuze will leverage the strategic capital to back its expansion plans and add promising hires in key roles, in addition to widening its technological capabilities.
Founded in 2022 by Mohammed Ali Yusuf, Arpit Mehta, and Srijan Shetty, Fuze aims to help any bank, fintech startup, or traditional enterprise to provide their customers with regulated digital assets products through their native apps.
The Co-Founder and CEO of Fuze, Mohammed Ali Yusuf “Regulations have played a pivotal role in propelling the UAE into a central position within the global Digital Assets industry.”
“We are building a suite of products that addresses the growing demand for regulated digital asset capabilities through trusted channels,” Yusuf added.
He also believed that the Middle East is the perfect home to establish a digital assets infrastructure business, as the regional digital asset market stands at $566 billion and is increasing by 48% on an annual basis.