Frictionless crypto ramping startup FLUUS closes pre-seed round to expand its crypto payment solution
The Hague, Netherlands, February 28, 2023, chain wire
Crypto payments startup FLUUS has announced the completion of a pre-seed round ahead of its beta launch. FHS Capital, Encryptus.io and a number of angel investors participated in the round, which raised $600,000.
FLUUS is creating a fiat-crypto entry and exit ramp, giving consumers access to Web3 services including token swapping and staking. Its top-notch payment solution is designed to remove friction and simplify the process of entering and exiting the crypto economy.
“We are pleased to have the support of FHS Capital and Encryptus.io, two highly respected investment firms,” said Tey El-Rjula, co-founder and CEO of FLUUS. “Your experience and resources will be invaluable as we continue to grow and scale our business to provide financial technology solutions to integrate the next billion into web3.”
dr Fady and Mr. Hesham Hannah-Shmouni, Managing Partners at FHS Capital, said: “Our investment in FLUUS aligns perfectly with our vision to empower exceptional founders and technologies in the Web3 space, and to enable clients and partners across all major industry verticals to benefit from it to benefit from the use of blockchain technology.”
More than $1 million in cryptocurrency has already been successfully released in a private trial of FLUUS’ payment gateway. With the support of an international NGO, the funds were used for relief work in Ukraine. In the next development phase, the beta version of the FLUUS payment solution will be made available to a broader market segment.
There are already a number of important partnerships that make the FLUUS payment solution available to millions of web users. These include matchmaking platform Dua.com and the GD10 Ventures ecosystem. The FLUUS payment widget can be easily embedded in third-party websites and applications and offers crypto-fiat changes on demand.
FLUUS’ consumer-oriented payment solution combines the functionality of web3 with the UX that is synonymous with web2. This offers a user-friendly experience that removes the complexity traditionally associated with buying and selling digital assets.
The native FLUUS token offers fee reductions for companies that integrate the payment solution into their products and services and participate in staking. Meanwhile, retail users can earn returns by delivering liquidity to FLUUS liquidity pools and stake the FLUUS token.
FLUUS currently offers two flagship products:
- FLUUS Pay: A regulated and compliant crypto ramping service provided in partnership with fintech operators and money transfer networks.
- FLUUS Auth: An SDK that enables developers to easily integrate secure and user-friendly login and Web3 onboarding into their own applications.
Funds raised from the seed round will be used to further develop these products and launch the services of FLUUS, bringing crypto-fiat payments to a global audience.
FLUUS was founded in March 2022 with the aim of developing solutions that improve global access to the Web3, especially in emerging markets. All co-founders of the company hail from the MENA region and are aware from their own experience that crypto plays an essential role in the daily lives of citizens in developing countries.
FLUUS has set itself the task of making cryptocurrencies accessible worldwide. Its crypto on and off ramp makes it easier for Web3 users to acquire and liquidate digital assets. Developers can integrate the FLUUS payment widget into their applications, providing on-demand crypto conversion.
Learn more: https://fluus.com/
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