Fuze, the digital assets infrastructure provider anchored in Abu Dhabi’s global tech hub, Hub71, has attracted a substantial $14 million in seed funding. This impressive investment underscores the continued optimism surrounding resilient sectors, even in the face of global economic challenges. Leading the funding round was Further Ventures, a company backed by ADQ, with the active participation of Liberty City Ventures, a US-based venture capital fund and incubator.
Fuze is a game-changing platform that empowers banks, FinTech firms, and traditional enterprises to deliver regulated digital assets services directly through their native apps. The fresh capital infusion will propel Fuze forward by facilitating regulatory licensing, strategic hiring initiatives, technological advancements, and the accelerated expansion of its footprint across the region.
Mohammed Yusuf, Fuze’s co-founder and CEO, expressed his enthusiasm, stating, “We are excited to build the future of regulated financial infrastructure and digital assets out of the UAE. Regulations have played a pivotal role in propelling the UAE into a central position within the global digital assets industry.”
Hub71, with backing from the Abu Dhabi government and Mubadala Investment Company, has emerged as a vital pillar of support for tech startups at every stage of their journey. Offering incentives and access to a wide network of investors, corporations, government bodies, and academic institutions, Hub71 has been a catalyst for growth.
In the preceding year, startups within the hub secured a staggering Dh4.5 billion ($1.22 billion) in global funding. Fuze, founded in December, is poised to benefit significantly from the strategic capital and investor network established during this seed round.
A representative from Further Ventures commented, “This is an important strategic investment into digital assets, one of our core verticals. Technology that enables a range of stakeholders is vital for the future of the financial ecosystem and Fuze is well placed to be a leader in digital assets across the MENA region and beyond.”
The startup is strategically positioned to tackle the complexities of blockchain and regulatory compliance for enterprises, allowing them to offer an array of digital assets, including stablecoins, cryptocurrencies, central bank digital coins, and tokenized assets.