Fuse Raises $6.6M to Power Infrastructure for Real-Time Cross-Border Payments in MENA, Led by Northzone

Fundraising News
03.04.2025 02:35 pm

Fuse is developing the foundational infrastructure for cross-border payments in the MENA and GCC regions and has raised $6.6 million in a funding round led by Northzone, with participation from Flourish Ventures, Alter Global, and prominent angel investors, including the founder of Flutterwave.

Traditionally, businesses expanding into MENA have faced high costs and significant complexity, with each country having its own regulatory requirements and banking systems. Fuse bridges this gap by offering businesses a simple and reliable unified API, unlocking payments across all key markets in MENA, including the UAE, Saudi Arabia, and the wider region.

Today, Fuse offers last-mile payouts and first-mile collection solutions powered by the region’s first Virtual IBAN technology as well as advanced in-house compliance systems and proprietary tooling. This is empowering companies to make real-time cross-border and local payments without setting up local accounts. Having launched with flagship client dLocal, the company’s solution is already supporting global brands such as Deel (contractors), Airbnb (hosts), and Etsy (sellers) as they expand into MENA's fast-growing markets as well as several other emerging diversified use cases including cross-border trade and high-value purchasing.

Founded in Dubai, the Fuse team brings extensive experience building best-in-class fintech, with many team members joining from Truelayer and Lean Technologies. Co-founder George Davis is a serial entrepreneur with deep expertise in global payments, having led payments at TrueLayer, scaled Paymentsense to serve over 100,000 businesses, and co-founded BVNK as Chief Product Officer. Recognising the demand for better payment infrastructure in MENA, George founded Fuse to bridge the gap for international businesses.

Fintech veteran James Smith is the Co-founder and CTO who led engineering teams at TrueLayer and BVNK, focusing on building cutting-edge financial technologies that serve global markets.

The leadership team includes Chief Compliance Officer Kathryn Willis having spent over a decade in enforcement at FCA as well as its newest member Yasmin Bayat joining as Commercial Director, having previously led payment sales at TrueLayer and Lean.

George Davis, CEO of Fuse, says:
“Fuse has entered the market at an exciting time. Demand is surging, and money is flowing into the UAE rapidly. Before Fuse, infrastructure for complex financial services like Virtual IBANs simply didn’t exist in the region. This year, it’s all about scale - serving the immense demand in MENA. While our focus has been on the US-Middle East corridor, we’re now expanding into Europe and Asia, enabling faster, more efficient payments between these regions and the Gulf countries.”

Sanjot Malhi, Partner at Northzone, comments:
“The Fuse team is transforming the payment infrastructure in one of the world’s fastest-growing markets. Their ability to simplify the complexities of cross-border payments in MENA is truly innovative, and we’re excited to support them as they scale.”