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Meet Finoa, They Want to Build a Crypto Bank — Founder Interview

Updated: Apr 30

This blog post first appeared first on old medium publication (https://medium.com/startuprad-io), and was moved to this blog with the relaunch of our website in summer 2024.

What Is This About?

Berlin-based Finoa provides institutional-grade custody and staking for digital assets, building what aims to become a fully regulated crypto bank. This interview explores how the startup bridges traditional financial infrastructure with the crypto world for professional investors.

  • This blog post first appeared first on old medium publication (https://medium.

  • The best way to identify investors and cooperation partners for early-stage startups.

  • In this interview we speak to Henrik Gebbing (https://www.

  • The co-founders started Finoa (https://www.

  • In April 2021 they announced a 22 mn US$ Series A funding, which is sizeable for Germany, as well as for crypto at the time.



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Meet Finoa, They Want to Build a Crypto Bank — Founder Interview Startuprad.io brings you independent coverage of the key developments shaping the startup and venture capital landscape across Germany, Austria, and Switzerland.

This blog post first appeared first on old medium publication (https://medium.com/startuprad-io), and was moved to this blog with the relaunch of our website in summer 2024.


When I started in crypto, I had to manage so many wallets and platforms, that I could not imagine how complicated it would be for an institutional investor. We started FINOA to help with that.Henrik Gebbing, Co-Founder and Co-CEO of FINOA

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In 2019, when we started, we had a really hard time convincing investors to invest in a crypto startup.Henrik Gebbing, Co-Founder and Co-CEO of FINOA

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We want to be the No 1 crypto custodian for institutional investors in Europe.Henrik Gebbing, Co-Founder and Co-CEO of FINOA

The Founder

In this interview we speak to Henrik Gebbing (https://www.linkedin.com/in/henrik-gebbing-finoa/), the Co-CEO and Co-Founder of Finoa, a Berlin-based crypto fintech, which is already one of the hidden champions. They are a global top 5 crypto custodian for institutional investors. Henrik attended Golden Gate University in San Francisco as a Fulbright Scholar and got his MBA at IE Business School in Madrid. He later worked as a consultant with McKinsey, but after 4 years jumped ship to start Finoa. He developed the idea, that would later become Finoa with his roommate (and now co-founder) on the kitchen table in Madrid, while studying for his MBA.

Globally we want to maintain one of the top 5 spots for crypto custody.Henrik Gebbing, Co-Founder and Co-CEO of FINOA

The Startup

The co-founders started Finoa (https://www.finoa.io/) in Berlin. Their driving idea was — and still is — to support institutional investors to go into crypto. They also support wealthy individuals, who hold substantial amounts of crypto assets of more than 100.000US$. Finoa is a custodian, meaning they keep — on behalf of their clients — their crypto assets save. At the time of the interview, they have around 400 customers. Their clients include the crypto holdings of Rocket Internet, T-Systems, US-based VCs and hedge funds.

In April 2021 they announced a 22 mn US$ Series A funding, which is sizeable for Germany, as well as for crypto at the time.

We hold assets for entities in Asia and Silicon Valley, but our focus market is the European Union.Henrik Gebbing, Co-Founder and Co-CEO of FINOA

Venture Capital Funding

FINOA announced their Series A funding of 22 mn US$ in April 2021(LINK). FINOA is open to discussions with investors, but they are not actively looking for new investors.

Fintech is fast, but crypto is warp-speed.Henrik Gebbing, Co-Founder and Co-CEO of FINOA

The Video Interview is set to go live on Thursday, February 17th, 2022 at 16:00 CET


For our business, paranoia is a very nice concept.Henrik Gebbing, Co-Founder and Co-CEO of FINOA

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The Interviewer

This interview was conducted by Jörn “Joe” Menninger, startup scout, founder, and host of Startuprad.io. Reach out to him:LinkedInTwitterEmail


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What Is Finoa?

Finoa is a Berlin-based crypto custody startup aiming to become the number one crypto custodian for institutional investors in Europe. Co-founded by Henrik Gebbing (Co-CEO), the company raised $22 million in a Series A in April 2021. Gebbing describes how managing multiple wallets and platforms in early crypto was so complicated that it inspired building a professional custody solution. In 2019, convincing investors to back a crypto startup was extremely difficult, but Finoa persevered to claim a global top-5 position in institutional crypto custody.

Introduction

In this founder interview, Startuprad.io speaks with Henrik Gebbing, Co-CEO and Co-Founder of Finoa, about building an institutional crypto custody platform from Berlin. Gebbing shares candidly that when he first entered crypto, managing multiple wallets and platforms was overwhelmingly complex — this pain point drove the creation of Finoa. The early days in 2019 were tough: convincing investors to back a crypto startup was a hard sell. But by April 2021, Finoa secured a sizeable $22 million Series A. Gebbing's ambition is clear: be the number one crypto custodian for institutional investors in Europe and maintain a global top-5 position.

Finoa represents Berlin's ambition in institutional crypto infrastructure. Co-CEO Henrik Gebbing built the company from the frustration of managing multiple crypto wallets and platforms, recognizing that institutional investors needed a professional custody solution. Despite the difficulty of raising for a crypto startup in 2019, Finoa secured a $22M Series A by April 2021. The company's stated goals are to become Europe's number one institutional crypto custodian and maintain a global top-5 position — ambitious targets that reflect the growing institutional demand for regulated digital asset custody.

  • Henrik Gebbing co-founded Finoa after experiencing the complexity of managing multiple crypto wallets and platforms firsthand.

  • In 2019, convincing investors to fund a crypto startup was extremely difficult — Finoa persevered through this challenge.

  • Finoa raised $22M in a Series A in April 2021 — a sizeable round for the German crypto space.

  • The company's goal is to be the #1 crypto custodian for institutional investors in Europe and globally top-5.

  • Finoa addresses the gap between retail crypto wallets and the security/compliance needs of institutional investors.

Entities Referenced in This Episode

People

  • Henrik Gebbing — Co-CEO and Co-Founder of Finoa

  • Jörn "Joe" Menninger — Startuprad.io host

Startups

  • Finoa (finoa.io) — Berlin-based institutional crypto custody, $22M Series A (April 2021)

Cities

  • Berlin — Finoa headquarters

Topics

  • Institutional crypto custody, digital asset management, crypto bank, Series A funding 2021, Berlin crypto ecosystem, wallet complexity

Relationship Map

  • Henrik Gebbing → Co-CEO & Co-Founder of → Finoa (Berlin)

  • Finoa → targets → #1 institutional crypto custodian in Europe

  • Finoa → raised → $22M Series A (April 2021)

  • Finoa → aims for → global top-5 in crypto custody

Quote Highlights

  • Henrik Gebbing co-founded Finoa after experiencing the complexity of managing multiple crypto wallets and platforms firsthand.

  • In 2019, convincing investors to fund a crypto startup was extremely difficult — Finoa persevered through this challenge.

  • Finoa raised $22 million in a Series A in April 2021 — a sizeable round for the German crypto space.

  • The company's goal is to be the number one crypto custodian for institutional investors in Europe and globally top five.

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What is Finoa?

Finoa is a Berlin-based startup providing institutional-grade crypto custody services. The company securely stores and manages digital assets for institutional investors, enterprises, and professional traders who need regulated, compliant custody beyond what retail wallets offer.

Who founded Finoa?

Henrik Gebbing co-founded Finoa and serves as Co-CEO. He was motivated by the complexity of managing multiple crypto wallets and platforms, and built Finoa to provide a professional, institutional-grade custody solution.

How much funding has Finoa raised?

Finoa raised $22 million in a Series A round in April 2021. This was considered a sizeable round for the German crypto startup space, reflecting growing institutional interest in digital asset custody.

What is institutional crypto custody?

Institutional crypto custody involves the secure storage and management of digital assets on behalf of professional investors — such as funds, banks, and enterprises. It requires higher security standards, regulatory compliance, and insurance coverage than retail crypto wallets, which is exactly what Finoa provides.

About the Host

Joern "Joe" Menninger is the host of the Startuprad.io podcast and covers founders, investors, and policy developments across the DACH startup ecosystem. Through more than 1,300 interviews and nearly a decade of reporting, he documents the evolution of the European startup landscape. Follow Joern on LinkedIn.

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Companies building in fintech and digital asset infrastructure use Startuprad.io to reach founders, investors, and decision-makers across the DACH startup ecosystem. If that fits your goals, explore partnership options here: Partner with Startuprad.io

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