German crypto custodian Finoa raises $15M

Finoaa company of crypto-custody founded in 2018 in Germany, has collected 15 million dollars from Maven 11, Blue Bay Ventures and others.

This Tuesday, Finoa announced a new round of financing, reported Financefwd.

The Berlin-based crypto custodian has raised $15 million through several rounds of financing over the past 12 months and from VCs including Maven 11 and Blue Bay Ventures, as well as existing investors such as Balderton and Coparion Capital.

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Finoa specializes in the custody of cryptocurrencies such as Bitcoin and offers a parallel staking service. The startup serves institutional clients such as family offices and offers support for almost 200 digital assets. It received a crypto license from German regulator BaFin last year, and recently boasted that it had passed the $500 million mark in assets staked on its platform.

By 2021, Finoa had closed a $22 million Series A financing round led by Balderton.

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