Crypto Startup FLUUS Completes $600,000 Pre-Seed Round to Expand Payments Solution
On February 28, cryptocurrency payment startup FLUUS announced that it has completed a pre-seed round ahead of its beta launch.
The funding round resulted in the accumulation of $600,000 thanks to the participation of FHS Capital, Encryptus.io and a number of angel investors, according to information shared with Finbold.
As a result of the seed round, FLUUS will be able to develop additional products to pave the way for widespread use of crypto-fiat payments.
Specifically, consumers will have access to Web3 services such as token exchange and staking after FLUUS completes the development of an entry and exit for transactions from fiat to cryptocurrency.
Co-founder and CEO of FLUUS said after the announcement:
“We are pleased to have the support of FHS Capital and Encryptus.io, two highly regarded investment firms. Their experience and resources will be invaluable as we continue to grow and scale our business to provide financial technology solutions for the next billion in Web3.”
Dr. Fady and Mr. Hesham Hannah-Shmouni, Managing Partners of FHS Capital, stated:
“Our investment in FLUUS aligns perfectly with our vision to empower exceptional founders and technologies in the web3 space, enabling customers and partners across key industry verticals to benefit from the use of blockchain technology.”
The payment gateway
In particular, the innovative payment solution was developed to reduce the friction involved in joining and leaving the cryptocurrency market. A private test of the payment gateway offered by FLUUS has already resulted in the successful off-ramping of 1 million dollars worth of cryptocurrencies.
With the help of a global non-governmental organization, the funds were used to provide aid to Ukraine. In the subsequent development stage, the beta version of the payment solution offered by FLUUS will be made available to a more extensive customer base.
There are already a number of significant partnerships in place, which will result in FLUUS’ payment solution being made available to millions of users, including the online dating portal Dua.com as well as the GD10 Ventures ecosystem. While with the FLUUS payment widget, third-party websites and apps can provide instant cryptocurrency-to-fiat currency conversion.
The consumer-facing payment solution offered by FLUUS combines the features of Web3 with the user experience (UX) characteristic of Web2, producing an experience that appeals to users and removes the complexity previously associated with buying and selling digital assets.
Finally, fee reductions are provided for companies that use the payment solution and participate in strikes in the form of the native FLUUS token. Although institutional investors can receive income by staking FLUUS tokens, retail investors can contribute liquidity to FLUUS liquidity pools in exchange for returns.
