Berlin fintech startup Neufund picks up €4 million on its quest to secure a financial license

Neufund, a German fintech startup that connects investors and entrepreneurs by means of a blockchain-powered platform, has raised another €4 million in financing in a round led by Christophe Maire’s Atlantic Labs and Factory Berlin CEO Udo Schloemer, with participation from Freigeist Capital and Dario Suter (founder and managing director of DCM).

The round, which is effectively an extension of the startup’s previous €3.4 million series A round, will serve to obtain a financial license, and for the usual things like hiring and further product development.

Founded in 2016, Neufund announced plans to freeze its fundraising campaigns and sideline future tokenised equity offerings back in June of this year, citing regulatory concerns.

Zoe Adamovicz, co-founder and CEO of Neufund, comments:

“From the outset, we have always strictly followed financial regulations and developed our business around the understanding that digital assets should be regulated like financial instruments. With this round, we take a further step in this direction: additional financial license would allow us to expand our list of services and products, while adhering to our compliant and transparent approach. We are thrilled to start this new chapter, and we have big plans ahead.”

Neufund says it intends to re-open the platform for entrepreneurs at the start of 2021.

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