Fuze, a startup that builds digital assets infrastructure, has raised $12.2 million in a Series A funding round. The round was led by Galaxy, a global digital assets company, and e & Capital, the investment arm of a telecom operator based in the UAE.
In September 2023, Fuze raised $14 million in its first round of funding. The leading investor was Further Ventures, and another company called Liberty City Ventures also took part.
This Series A funding will help Fuze grow in other countries, improve its products, follow rules and regulations, and hire more people for the team.
Fuze was started in 2023 by Arpit Mehta, Srijan R. Shetty, and Mo Ali Yusuf. The company provides tools that help other businesses and banks offer safe and legal digital asset services. Fuze also helps with stablecoins and has started working in the payments space.
The startup now works in the MENA region and Turkey, handling over $2 billion of digital assets. It plans to start operating in India and is talking to local regulators to understand and follow the country’s crypto rules.
Fuze’s service helps banks and fintech companies add digital asset products they can offer customers. The founders have worked at well-known companies like Goldman Sachs, VISA, Microsoft, and Checkout.com.
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