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Today: May 15, 2024
January 12, 2024
1 min read

Finoa Secures $15M to Fuel Growth

TLDR:

– Finoa, a regulated crypto platform, has raised $15 million in funding
– The round was co-led by Maven 11 Capital and Balderton Capital

Finoa, a regulated crypto platform based in Berlin, has raised $15 million in funding. The round was co-led by Maven 11 Capital and Balderton Capital, with participation from Blue Bay Ventures, Signature Ventures, Coparion, and Venture Stars. The company plans to use the funds to expand its operations, business reach, and development efforts.

Finoa is a regulated custodian for crypto assets and offers custody and staking services to professional investors. The platform allows users to securely store and manage their crypto assets, while also providing easy access to the ecosystem of Decentralized Finance (DeFi). Since its founding in 2018, Finoa has been licensed as a financial institution under the German Banking Act and is supervised by the Federal Financial Supervisory Authority (BaFin).

The funding round demonstrates continued investment and interest in the crypto industry. Finoa’s ability to attract funding from prominent investors such as Maven 11 Capital and Balderton Capital highlights the growing importance of regulated custodians in the crypto space. As more institutional investors enter the market, the need for secure and compliant custody solutions becomes paramount.

Finoa’s expansion plans are in line with the overall growth of the crypto industry. The company aims to enhance its operations and business reach, indicating its ambition to become a prominent player in the space. With the funding secured, Finoa can invest in its development efforts to improve the platform’s user experience and expand its range of services.

The participation of venture capital firms, large corporations, and financial institutions as Finoa customers further emphasizes the company’s credibility and appeal to institutional investors. As more traditional financial players seek exposure to crypto assets, regulated platforms like Finoa provide a trusted and compliant gateway.

In conclusion, Finoa’s $15 million funding round underscores the growing demand for regulated custodian services in the crypto industry. The company’s expansion plans and participation of prominent investors position it as a key player in the emerging crypto ecosystem.

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