Venture Stars et al. back Finoa

The round also saw participation from Signature Ventures and business angel Frank Geßner.

Finoa said in a statement that it plans to use the fresh capital and the input from its new investors to grow its team, broaden its product portfolio and explore new lines of revenue for the business.

Venture Stars generally makes initial commitments of €500,000-1m, with a potential total investment of €3m per company. Coparion invests up to €10m per company across financing rounds where it invests €500,000-5m per stage. The firm focuses on early-stage technology-backed companies headquartered in Germany.

Venture Stars and Coparion both participated in the €40m series-C funding round for vacation rental search engine Holidu in November 2019.

Signature Ventures focuses on blockchain startups in Europe, investing via equity deals as well as through token and cryptocurrency investments.

Company
Finoa is a blockchain platform that allows institutional investors, high-net-worth individuals and corporations to store and manage their cryptographic tokens. It claims to be the world's first fully digital custody and asset-servicing platform for digital assets.

The company also offers other services including lending, staking and tokenisation. Finoa's client base comprises more than 60 investors, including Invao Group and venture capital firms such as Atlantic Labs and Inflection.

Based in Berlin, the company has a headcount of 12, according to LinkedIn. It was established in 2018 and launched its asset management product in summer 2019.

People
Finoa – Henrik Gebbing, Christopher May (co-founders).
Venture Stars – Florian Calmbach (founding partner).
Coparion – Christian Schulte (investment professional).
Signature Ventures – Florian Huber (partner).

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