Digital asset custody and financial services platform Finoa has closed a $22 million Series A round led by London’s Balderton Capital.
Existing investors Coparion, Venture Stars, and Signature Ventures, as well as an undisclosed investor all participated.
The funding is earmarked to further build out the company’s products and services as well as up the headcount.
“Chris, Henrik, and the entire Finoa team have built a deeply impressive business which bridges the highest levels of professionalism with radical innovation,” comments Balderton Capital’s Colin Hanna. “As custodians of digital asset private keys, Finoa needs to be trusted both with the secure management of those keys and with the products and services that allow their clients to fully leverage the power of native digital assets.”
Founded in 2018 by Christopher May and Henrik Gebbing, Finoa enables regulated institutional access to digital assets and blockchain-powered innovations.
Over the past year, the firm has seen a 50x increase in revenues, and it angling to position itself as the European go-to when it comes to institutions jumping into the crypto ecosystem. Serving over 250 customers, Finoa has been supported the launch of a number of crypto networks including Dapper Lab’s FLOW protocol, NEAR, and Mina.
“With Balderton Capital joining our group of investors, we have added a renowned partner who brings unparalleled expertise in disrupting traditional financial services. With their experience and network, we have found the best support we could imagine, helping us facilitate greater institutional adoption of digital assets globally and continue to build an industry leader in the crypto-ecosystem,” adds Gebbing.
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