Fuse raises $6.6M to fix a payment problem for companies expanding to MENA [TechCrunch]
DLocal Limited - Class A Common Shares (DLO)
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Source: TechCrunch
Dubai-based fintech Fuse aims to simplify that with a cross-border payments API and has raised $6.6 million in seed funding to make it happen. Founded in 2023 by George Davis , former co-founder of BVNK, and CTO James Smith , Fuse says it's the first infrastructure-grade payments platform offering virtual International Bank Account Numbers (IBANs) in the region. This is a product Davis says is commonplace in Europe but nearly absent across MENA. “We're currently the only provider of virtual IBANs in the Middle East,” Davis told TechCrunch. “It's a hyper-commoditized product in Europe, but here, it simply didn't exist.” Fuse's core product includes USD virtual accounts for cross-border money movement and dirham-denominated IBANs for local UAE payments. That allows the startup to offer first-mile collections and last-mile payouts for international businesses without requiring them to set up a local entity, handle their own FX, or navigate licensing. Davis outlines two legacy opt
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