Fuse, the UAE-based cross-border payments solutions company, has announced the successful close of a $6.6 million seed funding round. The round was led by Northzone, the European investment firm known for backing global brands such as Klarna and Spotify, with participation from Flourish Ventures and Alter Global, as well as prominent angel investors including Flutterwave CEO Olugbenga Agboola and former Morgan Stanley MENA head George Makhoul.
Founded in 2023 by George Davis, the former co-founder of BVNK, and James Smith, the Head of Technology, Fuse provides an API for cross-border payments and is the first payments platform in the region to offer virtual international bank account numbers (IBANs) based on robust infrastructure.
Currently, Fuse serves over 20 clients, including staffing and outsourced employee management companies, remittance providers, digital currency platforms, and marketplaces. Its client roster includes DLocal, RemotePass, and platforms such as Deel, Airbnb, and Etsy.
The UAE remains the primary market for Fuse, while the platform has also enabled direct payments in Saudi Arabia, Egypt, and Jordan, and supports currency conversion services for Indian and Chinese companies operating in the UAE.
Commenting on the funding, Sanjot Malhi, a partner at Northzone, stated, “The Fuse team is driving a transformative shift in payment infrastructure in one of the fastest-growing markets in the world. Their ability to streamline cross-border transactions in MENA is exactly what the region needs.”
Fuse plans to use the new funds to expand its team, acquire additional regional licenses, and broaden its product suite to target new markets.
