Fusepay, a Seychelles-based fintech, raises $350k pre-seed to digitise business payments

Fusepay, a Seychelles-based fintech, has raised $350,000 in pre-seed funding to modernise B2B payments across the Indian Ocean islands.

Hustle Fund led the round with participation from Everywhere Ventures, First Check Ventures, Startup Istanbul, and angel investor Ryan Nesbitt.

“We are on a mission to build modern finance and payments for the underserved indian ocean islands, starting with Seychelles. We‘re helping businesses save money, save time, and prevent fraud,” Vidhyasahar Thiyagarajan, CEO of Fusepay. “This funding marks a key milestone in our journey to become a licensed Payment Service Provider (PSP) in Seychelles.”

Thiyagarajan (CEO) and Francesco Rocchi (CTO) founded Fusepay in June 2024. They both lived in Seychelles for decades, where they helped their families run retail and wholesale businesses. “…we saw how much time and money were lost to manual payments, chasing finances, and dealing with employee fraud, as the region continues to rely heavily on cash, paper, and outdated processes.”

They decided to do something about it, leveraging their tech background and experience at other startups like YC-backed Alaan. Yesterday, UAE-based Alaan announced a $48 million Series A to extend its corporate card and spend management platform.

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Fusepay’s flagship solution is FuseCheq, which enables secure, post-dated payments for retail and wholesale businesses, replacing physical cheques. According to the company, the Seychelles Government is phasing out physical cheques. Thereby, signalling the timeliness of their solution.

Later this month, the company intends to launch its Invoice payment platform, helping businesses manage accounts payable and receivable.

Fusepay is now a team of ten, including engineers, designers, and finance professionals with experience at companies like Intel and Goldman Sachs.