Finoa closes $22 Million Series A funding round led by Balderton Capital
We are delighted to announce that Finoa has closed a $22 Million Series A Funding Round to further fuel our growth story. The new round was led by European venture capital firm Balderton Capital, with further participation from existing investors Coparion, Venture Stars, and Signature Ventures, as well as an undisclosed investor. With this funding round, Finoa is one step closer to delivering on its aspiration of becoming a regulated one-stop shop for institutional investors and corporations to manage all their digital asset needs.
“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,” noted Henrik Gebbing, Finoa Co-Founder.
Our focus at Finoa has been to build a secure and regulated gateway for institutional investors and corporations to the world of digital assets and blockchain-powered innovation. Finoa’s platform enables our users to securely store and manage their crypto-assets, while providing a directly accessible and intuitive user experience, enabling seamless access to custody and staking.
Over the past year, our revenue has grown more than fiftyfold and we are now uniquely positioned as the European leader for institutional interaction with the fast-developing crypto ecosystem. Finoa has spearheaded institutional access to a wide range of blockchain-enabled use cases. Finoa was the only custodian to support the mainnet launch of many leading crypto networks like Dapper Lab's FLOW protocol, NEAR, and Mina. Today, Finoa is serving more than 250 customers, including industry leaders like CoinList and some of the largest crypto funds globally.
The proceeds will be used to build out our products and services, scale up the team, meet the rapidly growing institutional interest for digital assets, and enable participation in innovative financial services beyond custody and staking.
“We are proud to have established Finoa as Europe’s leading gateway for institutional participation and incredibly excited to accelerate our growth even further. We look forward to supporting new exciting protocols and projects, empowering innovative corporate use cases, and adding additional (decentralized) financial products and services to our platform,” said Christopher May, Finoa Co-Founder.
Colin Hanna, Principal at Balderton Capital added, “Chris, Henrik, and the entire Finoa team have built a deeply impressive business which bridges the highest levels of professionalism with radical innovation. 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 natively digital assets. The team they have assembled is uniquely positioned to do just that. As they continue to witness exceptional growth, we look forward to teaming up with Finoa on their journey towards becoming a category-defining digital asset bank.”
We would like to thank everyone who has trusted, supported, and/or worked with us so far, from our clients to our investors, our partners, and our amazing team. We are looking forward to the next chapter of our incredibly exciting journey.