Dubai-based fintech startup Fuse has raised US$6.6 million in seed funding to address payment challenges for companies entering the Middle East and North Africa (MENA) region.

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

Founded in 2023 by George Davis and James Smith, Fuse provides a payments infrastructure platform with virtual International Bank Account Numbers (IBANs). This allow businesses to make cross-border transactions and local payments in the UAE without establishing a local entity.

The platform serves businesses from the US, Europe, and Asia, working with over 20 clients, including Deel and Airbnb.

The startup plans to use the new funds to expand its team, secure additional regional licenses, and diversify its product offerings beyond the UAE.