Fuse, a fintech startup founded by former TrueLayer executives, has raised $6.6 million in a round led by Northzone, with support from Flourish Ventures, Alter Global, and angel investors.
Fuse focuses on solving payment challenges in the Middle East and North Africa (MENA). Expanding into the region has been tough for global businesses due to complex rules and banking systems in each country.
To fix this, Fuse offers the first Virtual IBAN technology in the region, along with built-in compliance tools. This allows companies to make real-time payments across borders and locally—without needing to open bank accounts in each country.
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The platform already supports companies like Deel, Airbnb, and Etsy. Fuse is led by CEO George Davis and CTO James Smith, both of whom previously worked at TrueLayer. Davis also helped build Paymentsense and co-founded BVNK, while Smith led engineering at both TrueLayer and BVNK.
Davis commented on the funding round, stating demand is surging and money is flowing into the UAE: “Before Fuse, infrastructure for complex financial services like Virtual IBANs simply didn’t exist in the region. This year, it’s all about scale – serving the immense demand in MENA. While our focus has been on the US-Middle East corridor, we’re now expanding into Europe and Asia, enabling faster, more efficient payments between these regions and the Gulf countries.”
About Fuse
Fuse makes it easy for global businesses to send and receive payments in the MENA region—just like a local—without changing their existing payment setup. Companies can connect to the Middle East with a simple API, no complex integration needed.
