Truelayer and BVNK veterans have raised $6.6 million for their startup building the infrastructure to power real-time cross-border payments in the Middle East and North Africa.
The round was led by by Northzone, with participation from Flourish Ventures, Alter Global, and angel investors including the founder of Flutterwave.
Dubai-based Fuse says that, traditionally, businesses expanding into Mena have faced high costs and significant complexity, with each country having its own regulatory requirements and banking systems.
It is working to bridge this gap by offering businesses a simple and reliable unified API, unlocking payments across all key markets, including the UAE, Saudi Arabia, and the wider region.
The company offers last-mile payouts and first-mile collection solutions powered by the virtual Iban technology, as well as in-house compliance systems and proprietary tooling. This lets firms make real-time cross-border and local payments without setting up local accounts.
Having launched with flagship client dLocal, the company’s technology is already supporting global brands such as Deel, Airbnb, and Etsy.
Fuse was founded by George Davis, a serial entrepreneur who has led payments at TrueLayer and co-founded Bvnk, and James Smith, who led engineering teams at TrueLayer and Bvnk.
Says CEO Davis: "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."