Digital assets provider Fuze has secured an impressive $14 million in seed funding, a significant milestone for the digital assets industry. Led by investment company Further Ventures, backed by ADQ, the funding round positions Fuze as a leader in the digital finance revolution in the United Arab Emirates (UAE).
Partnering with Hub71, a prominent tech ecosystem in the UAE, Fuze empowers banks, FinTech companies, and traditional enterprises to offer regulated digital assets products through user-friendly apps. The start-up’s cutting-edge solutions simplify blockchain technology and regulatory requirements, providing a seamless and compliant infrastructure for enterprises entering the digital assets space.
The funding will support Fuze’s growth, licensing, talent acquisition, technological advancements, and expansion into new markets. Mohammed Yusuf, co-founder and CEO of Fuze, expressed excitement about the opportunities this funding brings, stating, “We are delighted to have the support of Further Ventures and other investors who share our vision for the future of regulated financial infrastructure and digital assets in the UAE.”
Liberty City Ventures, a US venture capital fund and incubator, also participated in this funding round. This collaboration strengthens Fuze’s investor network, providing strategic capital and expertise for its growth and success.
The investment in Fuze highlights the increasing significance of digital assets in the global financial landscape. With its forward-thinking regulatory frameworks, the UAE has become a key player in this industry, attracting start-ups and investments in the digital assets space.
Hub71, supported by the Abu Dhabi government and Mubadala Investment Company, fosters innovation and supports tech start-ups. With over 200 start-ups and 41 deals worth Dh160 million secured with corporate partners in 2022, Hub71 has established itself as a thriving hub for tech entrepreneurship in the region.
Fuze’s achievement in securing seed funding demonstrates Hub71’s commitment to nurturing promising start-ups. The ecosystem offers incentives and access to investors, corporations, government entities, and academic institutions, creating an environment for growth and collaboration.
Further Ventures, the lead investor in Fuze’s funding round, recently launched a $200 million fund anchored by ADQ. The fund aims to support digital assets, FinTech, and supply chain start-ups, fueling innovation in these sectors. Fuze’s funding aligns with Further Ventures’ focus on payment products, blockchain asset custody and security solutions, marketplaces, and wallets.
During the first half of 2023, the Middle East and North Africa region witnessed a surge in venture capital financing for FinTech and e-commerce start-ups, highlighting the potential for growth and innovation within the region’s tech sector. Fuze’s ability to enable enterprises to offer a wide range of digital assets positions it as a key player in the digital finance ecosystem. By providing the necessary infrastructure and compliance solutions, Fuze empowers financial institutions and enterprises to embrace the opportunities presented by the digital assets revolution.
The successful seed funding round for Fuze not only provides the start-up with capital but also validates the potential of the digital assets industry in the UAE. As the country solidifies its position as an innovation and technology hub, the growth of Fuze and other start-ups will pave the way for a future where digital assets play a central role in the global financial landscape.