$15M for Crypto Asset Management Specialists Finoa
Berlin-based Finoa provides stock market institutions, such as wealth managers or hedge funds, with crypto-asset custody, brokerage and proprietary trading solutions, supporting more than 180 digital assets such as Bitcoin, Ether, or Mina. Their tamper-proof protocols and multi-factor authentication safeguards wallet users’ private keys, and their node deployment saves professional users “the hassle of managing validators”. Their staking alone has already gained more than €500 million in assets under delegation with the promise, “the simplest way to earn”. For Finoa, it is a selling-point that they are regulated and audited according to the strict German BaFin authority and rules, because that highlights the security of their platform and service. Now Finoa has announced a $15M funding deal, with all existing investors going along (see Balderton press release). The new money will support the expansion of Finoa’s offering and help the company continue to provide secure and compliant institutional digital asset management solutions.