The investment was co-led by Maven 11 Capital and Balderton Capital, with additional contributions from Blue Bay Ventures, Signature Ventures, Coparion, and Venture Stars.
Finoa said it plans to utilize the capital infusion to broaden its operational capabilities, extend its business outreach, and intensify its development initiatives. Co-founded and led by Christopher May and Henrik Gebbing, who serve as Co-CEOs, Finoa operates as a fully regulated custodian for cryptocurrency assets.
The startup offers professional investors services in custody and staking of crypto assets.
Licensed as a financial institution, Finoa’s regulatory compliance includes crypto custody, investment brokerage, and proprietary trading of cryptocurrencies. The platform is designed to provide secure storage and efficient management of crypto assets.
Emphasizing user-friendliness and direct accessibility, it aims to facilitate seamless integration into the Decentralized Finance (DeFi) ecosystem.
Founded in 2018 in Berlin, Finoa has established itself as a licensed financial institution under the German Banking Act (KWG). It operates under the supervision of BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht), the Federal Financial Supervisory Authority in Germany.
The company’s clientele is diverse, comprising venture capital firms, large corporations, and financial institutions. This broad customer base reflects the growing interest and trust in crypto assets and the need for regulated platforms that can offer secure and compliant services in this evolving sector.
Finoa’s latest funding round marks a significant milestone for the company, positioning it for further growth in the dynamic and rapidly expanding field of digital assets and blockchain technology. The investment is also indicative of the increasing investor confidence in regulated crypto platforms amid a landscape of growing institutional interest in cryptocurrencies.