Fusepay, a fintech company founded in Seychelles, has launched a digital payments platform aimed at helping businesses transition away from cheque-based and manual processes. This rollout follows a successful $350,000 pre-seed funding round in August, backed by Hustle Fund, Everywhere Ventures, First Check Ventures, Startup Istanbul, and angel investor Ryan Nesbitt
Seychelles business payments landscape remains dominated by paper cheques, which slow cash flow and increase the potential for errors. The Central Bank of Seychelles is advocating for a fully digital financial system, and Fusepay’s platform aligns with this transition.
With a Payment Service Provider licence and central bank approval, Fusepay offers various features, including virtual business accounts for easy setup, instant transfers for quick movement of funds, post-dated digital payments as a digital alternative to traditional cheques, and automated reconciliation to streamline the accounting process. Additionally, Fusepay Bridge the company’s API allows billers, such as utilities and telecoms, to collect payments electronically and provide instant receipts.
Founded in 2024 by Vidhyasahar Thiyagarajan and Francesco Rocchi, Fusepay is tailored for retailers, wholesalers, and other businesses that still depend on manual payment workflows. Its core product, FuseCheq, charges a 0.6% fee on each digital cheque replacement processed. The startup plans to expand its services to Mauritius and the Maldives within 18 months, targeting over 20 frontier markets across Africa, the Indian Ocean, the Caribbean, and the Pacific.
Fusepay’s launch highlights how small island and frontier markets are becoming crucial for testing digital payment solutions. Despite high transaction volumes, these economies often lack modern financial systems, creating opportunities for specialized B2B fintech solutions. In Seychelles, many business payments still rely on paper cheques, which can result in delays and reconciliation issues. Fusepay’s digital cheque replacement aims to modernize these workflows while maintaining familiarity.
By developing tools tailored to fragmented banking systems and limited interoperability, Fusepay aims to capture markets that remain under-digitized yet have high per-business spending. If adoption in Seychelles accelerates, it could serve as a successful model for similar transitions in Mauritius, the Maldives, and other frontier markets seeking to modernize their financial systems.
