Fuse, a fintech startup founded in 2023 in Dubai, aims to tackle the challenges of cross-border payments in the MENA region. With $6.6 million in seed funding, it offers a unique platform providing virtual International Bank Account Numbers (IBANs), a product that is standard in Europe but lacking in MENA. This allows international businesses to manage payments without required local setups. By positioning itself as a licensed intermediary, Fuse enhances the efficiency of money movement across the Middle East, attracting global clients from the U.S., Europe, and Asia looking to expand in the region.
"We're currently the only provider of virtual IBANs in the Middle East. It's a hyper-commoditized product in Europe, but here, it simply didn't exist."
"Fuse sits in the middle with a fully licensed, infrastructure-grade platform that simplifies money movement across the Middle East using virtual IBANs and local payout rails."
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