Dubai-based fintech startup Fuse has successfully raised US$6.6 million in seed funding, aiming to tackle payment challenges for businesses looking to enter the Middle East and North Africa (MENA) region.

The funding round was led by Northzone, with additional contributions from Flourish Ventures, Alter Global, and notable angel investors such as Flutterwave CEO Olugbenga Agboola and former Morgan Stanley MENA president George Makhoul.

Founded in 2023 by George Davis and James Smith, Fuse offers a payments infrastructure platform that includes virtual International Bank Account Numbers (IBANs). This feature enables companies to conduct cross-border transactions and make local payments in the UAE without needing to establish a local entity.

Currently, the platform serves over 20 clients from the US, Europe, and Asia, including well-known companies like Deel and Airbnb.

With the newly acquired funds, Fuse plans to expand its team, secure additional regional licenses, and diversify its product offerings beyond the UAE.