Finoa, a Germany-based regulated custodian for crypto-assets offering investors storage and staking services, announced that it has closed a $ 22 million Series A funding round to fuel its growth plans .
This new round was led by European venture capital firm Balderton Capital, with additional participation from existing investors Coparion, Venture Stars and Signature Ventures, as well as an undisclosed investor.
The proceeds will be used by Finoa to develop its products and services, grow the team, respond to the growing institutional interest in digital assets while enabling participation in innovative financial services beyond its current custody and custody offering. staking.
“With Balderton Capital joining our investor group, we have added a renowned partner who brings unparalleled expertise in disrupting traditional financial services. Through their experience and network, we have found the best support we can imagine, helping us facilitate greater institutional adoption of digital assets globally and continue to build an industry leader in crypto. ecosystem.
– Henrik Gebbing, co-founder of Finoa
Finoa has focused on creating a secure and regulated gateway for institutional investors and businesses to digital assets and blockchain-based technology. Finoa’s platform allows users to securely store and manage their crypto-assets; while offering a directly accessible and intuitive user experience, allowing transparent access to custody and staking.
According to some sources, over the past year Finoa has increased its income by more than fifty times. Finoa was the only custodian to support the mainnet launch of many leading crypto networks such as the FLOW protocol from Dapper Lab, NEAR and Mina. Today, Finoa serves over 250 clients, including industry leaders like CoinList and some of the world’s largest crypto funds.
“Chris, Henrik and the entire Finoa team have built a deeply impressive company that connects the highest levels of professionalism with radical innovation. As custodians of the private keys of digital assets, Finoa must have confidence in both the secure management of these keys and the products and services that enable their customers to take full advantage of the power of native digital assets. The team they’ve assembled is uniquely positioned to do just that. As they continue to experience exceptional growth, we look forward to teaming up with Finoa on their journey to a category-defining digital asset bank.
– Colin Hanna, Director at Balderton Capital