Crypto custodian Finoa raises $22 million in Series A funding

Institutional crypto custodian Finoa has raised $22 million in a Series A funding round.

The round was led by venture capital firm Balderton Capital, an investor in companies like Revolut and bitcoin wallet Luno. Other participants in the round included existing investors Coparion, Venture Stars, and Signature Ventures, as well as an undisclosed investor.

With fresh capital at hand, Germany-based Finoa plans to expand its crypto products beyond custody and staking, and scale its team. It aims to become "a regulated one-stop-shop for institutional investors and corporations to manage all their digital asset needs."

Start your day with the most influential events and analysis happening across the digital asset ecosystem.

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Founded in 2018, Finoa currently has a preliminary crypto custody license from German finance regulator BaFin.

The firm claims to serve more than 250 customers and says its revenue has grown mor