Estonian Yolo Investments invests in a digital asset wallet creation platform Dfns

Estonian Yolo Investments has invested in the Paris-based digital asset wallet creation platform Dfns. Also participating in the $16M round were Abu Dhabi-based Further Ventures, Paris-based Motier Ventures, London-based Wintermute and Semantic, Techstars, New York-based Motive Ventures, Seoul-based accelerator Hashed, business angels Sep Alavi from White Star Capital, Joy Boustani from Bpifrance and others.

Founded in Paris in 2020 by Clarisse Hagège and Christopher Grilhault des Fontaines, Dfns is a wallets-as-a-service platform that simplifies digital asset management for fintechs, institutions, and enterprises. The startup enables applications and organizations to create, manage, and embed millions of wallets on the platform through a single API, reducing development time. The company offers the configuration of organizations-controlled wallets or user-controlled wallets. The platform enables integration with more than 100 blockchains and applications, including exchanges, staking platforms, and tax management tools.

Customers include ABN AMRO, Fidelity, Zodia Custody, Bridge, Stripe, and over 100 financial applications. Dfns has created over 10M wallets and secured $5Bln in transactions.

Founded in Estonia by Tim Heath in 2017, Yolo Investments is a venture capital firm, focused on seed- and A-stage investments in gaming and fintech. Tim Heath specializes in the iGaming industry. He is also the founder and board member of Yolo Group, which operates gaming brands such as bitcasino.io and sportsbet.io. At the end of 2023, he launched a €100M Yolo Fund II with the average ticket per startup from €3M to €5M.