How exactly do you plan to do it?
Raw edge applique basically means that you expect the edges to fray when the quilt is washed. Any fusible that is strong enough to not allow raw edges to fray (and I'm not sure there are any) would be very stiff.
I've seen raw edge done more for wallhangings and art quilts than for quilts that are to be used. However, it's fine to use raw edge in quilts that are going to be used as long as you know the edges will fray. It's a good look especially for homespun and country style quilts, although I've seen some modern type bright flowers done that way too and look great.