Cryptowallet Startup Dfns Secures $16M Led by Further Ventures
The Abu Dhabi-backed firm led the round for the Paris-based startup, which simplifies crypto wallet integration for businesses.
Further Ventures, the venture capital firm supported by Abu Dhabi’s sovereign wealth fund ADQ, has spearheaded a $16 million funding round for Dfns, a Paris-based startup specialising in crypto wallet technology. Other investors participating in the round include market maker Wintermute, Motive Partners, Bpifrance, and Motier Ventures, the family office linked to the owners of the Galeries Lafayette Group.
Founded in 2020, Dfns provides technology that simplifies the development and secure management of digital asset wallets. The company’s solutions enable large firms, such as banks and trading platforms, to integrate crypto wallets into their operations.
The funding comes as banks show a growing interest in crypto assets. Italy’s Intesa SanPaolo SpA recently made its first spot Bitcoin purchase, signaling a shift in institutional engagement with cryptocurrencies.
Dfns has already attracted major clients such as Fidelity International, Zodia Custody, and Bridge, a stablecoin company acquired by Stripe last year. Its technology could support banks initiating spot crypto trading or retailers exploring stablecoin launches.
Looking ahead, Dfns plans to increase its workforce from 25 to 35 employees and expand its reach in the financial sector. The company previously raised $13 million in 2022.
