Crypto Startup FLUUS Raises $600K in Pre-Seed Round to Enhance Payment Solutions
Crypto startup FLUUS has successfully raised $600,000 in a pre-seed funding round to advance its payment solutions aimed at facilitating crypto-fiat transactions. The investment was backed by FHS Capital, Base64 Ventures, and several angel investors. With the funding, FLUUS plans to enhance its offerings, including an on- and off-ramp for fiat to cryptocurrency, and to provide users with access to Web3 services like token swapping and staking. The startup's payment gateway has already demonstrated its potential by facilitating over $1 million in off-ramped cryptocurrencies for humanitarian aid in Ukraine. The beta version of FLUUS’s payment solution is expected to launch soon, making it accessible to a wider audience.
On February 28, cryptocurrency payment startup FLUUS announced the successful completion of a pre-seed funding round, raising $600,000 ahead of its beta launch. The investment was backed by FHS Capital, Base64 Ventures, and several angel investors, as reported by Finbold.
This funding will enable FLUUS to further develop its products, facilitating the broader adoption of crypto-fiat payment solutions.
Upcoming Features for Consumers
Once FLUUS finalizes its on- and off-ramp for fiat to cryptocurrency transactions, users will gain access to Web3 services, including token swapping and staking.
Co-founder and CEO of FLUUS expressed enthusiasm for the support received, stating:
“We are thrilled to have the backing of FHS Capital and Base64 Ventures. Their expertise will be crucial as we aim to scale our financial technology solutions to onboard the next billion users into Web3.”
Dr. Fady and Mr. Hesham Hannah-Shmouni, Managing Partners at FHS Capital, added:
“Investing in FLUUS aligns with our mission to empower exceptional founders and technologies in the Web3 space, providing benefits to customers and partners across key industry sectors through blockchain technology.”
Innovative Payment Gateway
FLUUS has designed its payment solution to minimize the challenges of entering and exiting the cryptocurrency market. A private test of the FLUUS payment gateway successfully facilitated over $1 million in off-ramped cryptocurrencies, with the funds being utilized for humanitarian aid in Ukraine. The beta version of the payment solution is expected to reach a broader audience soon.
FLUUS has established significant partnerships that will allow its payment solution to be accessible to millions, including collaborations with the online dating platform Dua.com and the GD10 Ventures ecosystem. The FLUUS payment widget will enable third-party websites and applications to provide instant cryptocurrency-to-fiat conversion.
The consumer-facing payment solution merges Web3 capabilities with a user-friendly Web2 experience, simplifying the process of buying and selling digital assets.
Additionally, businesses using the payment solution will benefit from reduced fees and can participate in staking with the native FLUUS token. Institutional investors may earn returns through staking, while retail investors can contribute liquidity to FLUUS liquidity pools for yield.
FAQ: FLUUS Raises $600K in Pre-Seed Round to Enhance Payment Solutions
1. What is FLUUS?
FLUUS is a cryptocurrency payment startup focused on developing solutions that facilitate seamless crypto-fiat transactions. The company aims to simplify the process of entering and exiting the cryptocurrency market.
2. How much funding did FLUUS raise in its pre-seed round?
FLUUS successfully raised $600,000 in its pre-seed funding round.
3. Who backed FLUUS in this funding round?
The funding was backed by FHS Capital, Base64 Ventures, and several angel investors.
4. What will the funding be used for?
The funds will be utilized to further develop FLUUS's payment solutions and facilitate the broader adoption of crypto-fiat transactions.
5. What features can consumers expect from FLUUS?
Once launched, FLUUS will provide users with access to Web3 services, including token swapping and staking, along with an on- and off-ramp for fiat to cryptocurrency transactions.
6. What is the significance of the private test conducted by FLUUS?
In a private test of its payment gateway, FLUUS successfully facilitated over $1 million in off-ramped cryptocurrencies, which were used for humanitarian aid in Ukraine. This demonstrates the platform's capability and potential impact.
7. When can we expect the beta version of FLUUS's payment solution?
The beta version of the FLUUS payment solution is expected to be launched soon, allowing a broader audience to access its features.
8. What partnerships has FLUUS established?
FLUUS has formed significant partnerships, including collaborations with the online dating platform Dua.com and the GD10 Ventures ecosystem, enhancing its payment solution's accessibility.
9. How does the FLUUS payment solution benefit businesses?
Businesses using the FLUUS payment solution will benefit from reduced fees and the opportunity to participate in staking with the native FLUUS token.
10. Can retail investors participate in FLUUS's offerings?
Yes, retail investors can contribute liquidity to FLUUS liquidity pools for yield, while institutional investors may earn returns through staking.
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