Finoa, a Berlin, Germany-based digital asset custody and financial services platform for institutional investors and corporations, closed a $22m Series A funding round.
The round was led by Balderton Capital, with further participation from existing investors Coparion, Venture Stars and Signature Ventures, as well as an undisclosed investor.
The company intends to use the funds to build out its products and services, scale up the team, and enable participation in innovative financial services beyond custody and staking.
Founded in 2018 by Christopher May and Henrik Gebbing, Finoa is a regulated custodian, serving as the gateway for institutional investors and corporations to the world of digital assets. The platform enables its users to securely store and manage their crypto-assets, while providing a directly accessible user-experience, enabling access to custody and staking.
The company supported the mainnet launch of many crypto networks like Dapper Lab’s FLOW protocol, NEAR, and Mina. Today, Finoa is serving more than 250 customers, including T-Systems, CoinList and Bankhaus Scheich.