UAE Fintech Fuse Raises $6.6M to Fill MENA’s Cross-Border Payment Gaps

UAE-based fintech startup Fuse has raised $6.6 million in seed funding to address one of the region’s most persistent bottlenecks: seamless cross-border payments. The round was led by global venture capital firm Northzone, with participation from Flourish Ventures, After Global, and angel investors including Flutterwave CEO Olugbenga Agboola.

Launched in 2023, Fuse provides virtual USD accounts and dirham-denominated IBANs to global businesses looking to operate in MENA markets without setting up local banking relationships. From its UAE base, Fuse has already enabled direct payments in Egypt, Saudi Arabia and Jordan, and facilitates wholesale foreign exchange for Indian and Chinese companies transacting with the Gulf.

Cross-border payments in the MENA region remain heavily fragmented. Unlike Europe—where open banking and standardised systems like SEPA have transformed B2B money movement—MENA’s regulatory patchwork and legacy infrastructure have made it difficult for non-local companies to access capital or process payments efficiently. Startups and SMEs often face high fees, long settlement times, and limited transparency when moving money into or within the region. Fuse’s infrastructure aims to eliminate these friction points, offering global companies a way to plug into MENA’s digital economy without the usual compliance hurdles.

The startup is fully licensed in the UAE and will use the new funding to expand its team, secure regulatory clearance in other MENA jurisdictions, and grow its product offering beyond payment rails—positioning itself as a full-stack financial platform for the region.