Cryptocurrency custody provider Finoa completes $15 million financing round, led by Maven 11 Capital.

BlockBeats reported on January 9th that Finoa, a provider of cryptocurrency custody and staking services, has completed a $15 million financing round with joint lead investors Maven 11 Capital and Balderton Capital, as well as participation from Blue Bay Ventures, Signature Ventures, Coparion, and Venture Stars. Christopher May, co-founder and co-CEO of Finoa, stated that the equity financing round began in June of last year and ended in December. Initially, Finoa aimed to raise $5-6 million from existing investors in this financing round, but ultimately raised more funds due to external investors' interest in the company's recent return to profitability. This strategic financing round comes nearly three years after Finoa raised $22 million in its Series A financing round in April 2021. Given the challenging market conditions last year, Finoa opted for a smaller strategic financing round to achieve growth instead of a larger Series B financing round. An insider revealed that the valuation of this financing round remains unchanged at $100 million, consistent with Finoa's Series A valuation in 2021.