Further Ventures, a venture capital firm funded by Abu Dhabi’s sovereign wealth fund ADQ, has led a US$16 million investment in Dfns, a crypto wallet technology company based in Paris.

Other investors include Wintermute, Motive Partners, Bpifrance, and Motier Ventures, linked to the owners of Galeries Lafayette Group.

Dfns plans to use the funds to attract more financial services clients, including banks and trading platforms, according to CEO Clarisse Hagège.

The company also plans to increase its workforce from 25 to 35 employees and expand its opportunities in the Middle East.

Founded in 2020, Dfns develops technology for digital asset wallet management, focusing on security and simplicity.