Finoa announces $15M in strategic funding

The funding round welcomed new investors Maven 11 and Blue Bay Ventures, and included participation from all existing investors, including Balderton, Coparion, Signature Ventures and Venture Stars.

Founded in 2018 in Berlin, Finoa is the leading European digital asset custodian and staking provider, enabling institutional access to the ever-growing crypto asset ecosystem.

The company offers a range of services, including custody, staking, and brokerage, with an emphasis on security, regulatory compliance, and customer service. Finoa’s intuitive platform enables users to securely store, stake, and manage their assets, making it a trusted partner for institutional investors, hedge funds, corporates, and high-net-worth individuals globally.

The new funding coincides with Finoa’s return to profitability, which can be attributed to an increase in the assets managed on its platform as well as the expansion of its products and services. In particular, Finoa’s staking unit has attracted more than €500 million in Assets under Delegation to its validator infrastructure in its first year and a half.

Finoa also confirmed its Qualified Custodian status earlier in 2023, marked by the provisioning of three licenses by the German Federal Financial Supervisory Authority (BaFin). These developments led to the company seeing four-fold growth in the latter half of 2023. 

The funds raised will support the expansion of Finoa’s services and help the company continue to provide secure and compliant institutional digital asset management solutions