Dfns, a leading wallet-as-a-service platform for crypto assets, has successfully raised $16 million in Series A funding. The investment round was led by Further Ventures, the venture arm of Abu Dhabi’s largest sovereign wealth fund, ADQ. The funding also saw participation from a number of prominent investors, including White Star Capital, Hashed, Semantic, Techstars, and Bpifrance, as well as new backers such as Motive Partners, Wintermute, and Motier Ventures.
Shifting Focus to Institutional Clients
Two years ago, Dfns strategically shifted its focus toward institutional clients, marking a pivotal moment in its growth. This shift was driven by the belief that institutional investors—who control the majority of global liquidity—are key to driving the widespread adoption of cryptocurrencies. Understanding the unique needs of these investors, Dfns has placed a strong emphasis on offering the highest level of security, aligning with the stringent requirements of traditional financial systems while incorporating cutting-edge technology to exceed expectations.
As the value of crypto assets continues to rise, so do the risks and scrutiny associated with them. With security being one of the top concerns for institutional investors, Dfns has carved out a niche by positioning itself as the most secure blockchain wallet infrastructure available. In doing so, Dfns has become the go-to solution for trusted institutions that are exploring the future of crypto and integrating it into the world of finance.
The company’s reputation for reliability and security is bolstered by a variety of trust-building measures, including industry-leading certifications, regulatory licenses, comprehensive insurance, independent audits, and collaborations with globally recognized leaders in the financial space. Among Dfns’ impressive client roster are names like Fidelity, Bridge (Stripe), Zodia Custody (Standard Chartered), Tungsten Custody (ADQ), and over 130 fintech firms worldwide. These partnerships demonstrate Dfns’ ability to meet the stringent demands of institutional clients and maintain its position as an industry leader in the rapidly evolving world of crypto assets.
How the Funding Will Be Utilized
The new Series A funding will be used to accelerate the rollout of Dfns’ multichain wallet infrastructure, with a goal of widespread adoption by 2025. The company’s focus will be on expanding its reach among a diverse range of institutions, including banks, payment services, trading platforms, investment applications, tokenization projects, government and corporate treasuries, and fund administrators. Specific regions targeted for expansion include the EU, UK, UAE, and US.
Clarisse Hagège, CEO of Dfns, outlined the company’s strategic approach moving forward. “We have a clear plan,” she said. “Crypto can be unpredictable, so we’ve learned to prioritize sustainable growth over rapid expansion. We’re not looking to scale our workforce aggressively; instead, we aim to grow from 25 to 35 employees by year-end, provided we meet our targets and the market remains stable.” This cautious yet strategic approach reflects Dfns’ commitment to long-term growth rather than short-term gains. By focusing on sustainable expansion, the company ensures that it will continue to meet the evolving needs of its institutional clients.
Hagège also highlighted that the primary objective is to provide world-class infrastructure to fintech clients, who demand bank-grade security, smarter transaction management systems, direct integrations, and enhanced user and developer experiences. Dfns’ ability to deliver on these expectations has been key to its success, and it will remain central to the company’s efforts in the coming years.
Institutional Trust in Dfns’ Platform
Dfns’ commitment to security is a cornerstone of its appeal to institutional investors. The company’s wallet-as-a-service platform offers a highly secure and customizable solution that enables businesses to easily integrate crypto asset management into their operations. With an increasing number of institutions looking to offer crypto services to their clients, security is often the deciding factor when choosing a platform.
Dfns has developed a robust security framework that includes a combination of advanced encryption, multi-signature authentication, and decentralized control mechanisms to ensure that crypto assets are fully protected from unauthorized access. The platform also offers an API-first design, which allows easy integration with existing systems, providing businesses with a seamless experience when adding crypto services to their portfolio.
In addition to its technical security measures, Dfns ensures that it adheres to the highest standards of regulatory compliance. As the cryptocurrency industry continues to evolve, regulatory scrutiny is intensifying. Dfns is well-positioned to navigate this landscape, having obtained several regulatory licenses and certifications. The company is also committed to maintaining transparency and accountability through regular independent audits, further enhancing the trust placed in its platform by institutional investors.
The Role of New and Existing Investors
The $16 million raised in this Series A funding round represents a significant milestone for Dfns, and the company is grateful for the ongoing support of both new and existing investors. The diverse mix of institutional backers, ranging from sovereign wealth funds to fintech-focused venture capital firms, speaks to the broad interest in Dfns’ vision and its potential to shape the future of crypto asset management.
Among the new investors, Motive Partners, Wintermute, and Motier Ventures bring a wealth of expertise and resources to Dfns’ growing ecosystem. These firms’ participation underscores the importance of Dfns’ institutional focus and highlights the growing recognition of the need for secure, scalable crypto infrastructure for financial institutions.
White Star Capital, Hashed, and other historic investors continue to demonstrate their confidence in Dfns’ leadership and its business model. These long-standing relationships have been instrumental in the company’s growth and will continue to be a key source of support as Dfns scales its operations globally.
Read more: Dfns Raises $16M to Enhance Crypto Wallet Infrastructure for Financial Services
