Further Ventures, a venture capital firm that invests in fintech and digital asset companies, has reaffirmed its position as a leader in digital asset innovation by spearheading a $16 million Series A funding round for Paris-based crypto wallet technology firm Dfns. This move highlights Further Ventures’ commitment to fostering cutting-edge technologies in the digital asset and fintech sectors.
Further Ventures led the funding round, which also attracted investment from public bank Bpifrance and other backers. The funding follows Dfns’ $13 million seed round in 2022 and aims to support the company’s expansion into key markets, including the UAE, EU, UK, and US.
Dfns provides blockchain wallet infrastructure for businesses, enabling banks, payment platforms, tokenization projects, corporate treasuries, and others to manage digital assets securely. CEO Clarisse Hagège noted, “We’re not looking to scale our workforce aggressively… Our focus is to deliver world-class infrastructure for our fintech clients.”
Commenting on the investment, Mohamed Hamdy, Managing Partner at Further Ventures, said to Unlock Blockchain: “Dfns represents a shift from traditional cold storage to programmable wallet infrastructure, enabling institutions to automate operations and integrate digital assets like stablecoins into their existing systems with institutional-grade security and customizable policy controls. The company’s competitive advantage stems from its API-first, modular architecture, giving banks and financial institutions unprecedented control and flexibility in deploying wallet infrastructure.”
Building an Integrated Ecosystem
Further Ventures has strategically built a synergistic ecosystem of portfolio companies that address various aspects of the digital asset landscape, including:
- Fuze: A UAE-based blockchain infrastructure platform enabling businesses in the MENA region to integrate digital asset products seamlessly.
- Tungsten: A UAE-based sovereign institutional custodian of virtual assets, providing unmatched security by operating within private physical and application infrastructures.
- Kemet Trading: A provider of institutional-grade access to the digital asset derivative ecosystem.
- Libre Capital: A blockchain-based investment infrastructure firm offering access to global alternative markets for affluent investors in partnership with leading asset managers and wealth advisors.
This interconnected ecosystem exemplifies Further Ventures’ smart investment strategy, ensuring collaboration among its portfolio companies to deliver comprehensive solutions for the digital economy.
