Dfns Raises $16M Series A for Digital Asset Wallet Security

Dfns Secures $16 Million Series A Funding to Revolutionize Digital Asset Wallet Infrastructure

9:27 PM · Jan 14, 2025 – Dfns, a leading provider of secure and scalable digital asset wallet infrastructure, today announced the closing of a $16 million Series A funding round. The round was led by Further Ventures, the venture capital arm backed by Abu Dhabi’s largest sovereign wealth fund, ADQ, with participation from new investors Motive Partners, Wintermute, and Motier Ventures (Galeries Lafayette Group). Existing investors White Star Capital, Hashed, Semantic, Techstars, and Bpifrance also participated. This latest investment brings Dfns' total funding to $28 million following a $12 million seed round in 2022.

Dfns provides a Wallet-as-a-Service (WaaS) platform built on a zero-trust security architecture, enabling fintechs and financial institutions to seamlessly integrate digital asset capabilities. The company's technology leverages Multi-Party Computation (MPC) to fragment and distribute private keys across multiple secure environments, eliminating single points of failure and enhancing security.

This funding round comes on the heels of a remarkable year for Dfns, marked by significant growth and adoption:

130+ Clients: Dfns has earned the trust of leading institutions in banking, custody, payments, tokenization, and trading, including Fidelity, Bridge (acquired by Stripe), Zodia Custody (backed by Standard Chartered Bank), and Tungsten Custody (backed by ADQ).

10 Million Wallets: The platform supports both custodial and non-custodial wallet models, facilitating treasury management and end-user onboarding experiences.

$1 Billion in Monthly Transactions: Dfns secures and processes substantial payment volumes globally.

"This investment validates our product and our strategic focus on fintechs and financial institutions," said Clarisse Hagège, CEO and Co-founder of Dfns. "We are committed to building the most secure and scalable wallet infrastructure in the industry, enabling the widespread adoption of blockchain technology."

Dfns' modular API-driven platform allows developers to customize wallet solutions based on their specific needs, integrating with existing systems and workflows. The company's pricing model, based on usage rather than assets under management, offers a competitive advantage in the market.

"Dfns is uniquely positioned to capitalize on the growing demand for secure and scalable digital asset wallet solutions," said a representative from Further Ventures. "Their commitment to security, combined with their innovative technology and experienced team, makes them a compelling investment."

The funding will be used to expand Dfns' team, accelerate product development, and further penetrate key markets including the EU, UK, UAE, and US. The company plans to grow its workforce from 25 to 35 employees by the end of 2025.

About Dfns:

Dfns is a leading provider of secure and scalable digital asset wallet infrastructure. The company's Wallet-as-a-Service (WaaS) platform empowers fintechs and financial institutions to seamlessly integrate digital asset capabilities. Dfns leverages Multi-Party Computation (MPC) and a zero-trust security architecture to ensure the highest level of security for digital assets.

About Further Ventures:

Further Ventures is a venture capital firm backed by ADQ, one of the largest sovereign wealth funds in the Middle East. The firm invests in innovative technology companies across various sectors, including fintech, healthcare, and energy.

About Motive Partners:

Motive Partners is a specialist private equity firm focused on technology-enabled companies that power the financial services industry.

About Wintermute:

Wintermute is a leading global algorithmic market maker specializing in digital assets.

About Motier Ventures:

Motier Ventures is the family office of the owners of the Galeries Lafayette Group, a major French retail company.

About White Star Capital:

White Star Capital is a global multi-stage technology investment platform that invests in exceptional entrepreneurs building ambitious, international businesses.

About Hashed:

Hashed is a global, early-stage venture fund focused on blockchain and cryptocurrency technologies.

About Semantic:

Semantic Ventures is a venture capital firm focused on investing in the next generation of data infrastructure and developer tools.

About Techstars:

Techstars is a global platform for investment and innovation, connecting entrepreneurs, investors, corporations, and cities to accelerate the growth of new companies.