Digital assets infrastructure startup Fuze has raised $ 12.2 million in a Series A funding round led by Galaxy, a global digital assets and data infrastructure company, and e& Capital, the investment arm of UAE telecom operator e&.

The funds will be deployed towards international expansion, product development, regulatory compliance, and team growth as the company scales its operations globally.

Founded in 2023 by Arpit Mehta, Srijan R Shetty, and Mo Ali Yusuf, Fuze provides Digital Assets-as-a-Service infrastructure, enabling banks, fintechs, and businesses to offer regulated digital asset products to their end-users in a B2B2C model. The platform also includes a full suite of stablecoin infrastructure and recently expanded into payments.

Arpit Mehta, Founder at Fuze says, "With Galaxy's digital asset expertise and e&'s strategic reach, we're well-positioned to enable banks and businesses to seamlessly integrate digital assets. We believe every financial institution will soon leverage crypto or stablecoin capabilities."

Fuze's leadership team possesses extensive experience from well-known companies—Arpit Mehta held managerial positions at Simpl and Clear; Srijan R Shetty developed trading systems at Goldman Sachs and was employed at Microsoft; and Mo Ali Yusuf previously oversaw important operations at Checkout.com and VISA. Collectively, they have developed a platform that enables financial entities to swiftly and effectively introduce secure, regulated digital asset services.

The startup is presently operational in MENA and Turkey, having handled more than $ 2 billion in digital asset transactions. It is now focused on India, actively collaborating with local regulators to manage the country's changing crypto landscape.

Fuze previously secured $14 million in seed funding in September 2023, spearheaded by Further Ventures, with contributions from Liberty City Ventures. The newest round increases its total funding to more than $26 million.

Leon Marshall, CEO of Galaxy Europe says, "The UAE is fast becoming a global innovation hub for digital assets, and Fuze is leading the charge with robust infrastructure and regulatory alignment."

e&'s Group CSO Harrison Lung says, "Fuze aligns perfectly with our fintech ambitions—from e& money to Wio and Careem Pay. This investment supports our long-term vision of building a future-ready financial ecosystem."