Tangany Secures €10 Million Funding for European Expansion
Tangany, a Munich-based guardian of digital assets regulated by Bafin, is making significant strides in its expansion plans across the European Union under the Mica framework. The company has successfully closed a funding round totaling €10 million, paving the way for its future growth and innovation in the digital asset sector.
Leading Investors Back Tangany’s Vision
The funding round was spearheaded by esteemed financial institutions including Baader Bank, Elevator Ventures (the venture capital arm of Raiffeisen Bank International), and Heliad Crypto Partners. Additionally, existing shareholders like HTGF and Nauta Capital reinforced their commitment by participating in this latest investment round.
A Statement of Trust in Digital Assets
CEO and co-founder, Martin Kreitmair, expressed the significance of this Series A financing: “This round represents more than just capital; it sends a strong signal of institutional trust in Tangany’s vision and infrastructure. We are proud to welcome well-established European institutions as investors, which further solidifies our position in the financial sector.”
Innovation at the Forefront of Digital Transformation
Founded in 2018, Tangany has quickly become a prominent player in the fintech landscape, specializing in B2B solutions for digital assets on the blockchain. Their offerings include cryptocurrencies, tokenized titles, and NFTs, currently utilized by over 60 institutional clients such as major banks and trading platforms, including Fatexdegiro, eToro, Bitvavo, and Finanzen.net zero.
Efficiency and Regulatory Compliance
Tangany’s innovative platform allows clients to seamlessly integrate blockchain technology through an API, providing a white-label solution that significantly reduces internal development costs and time. This approach enables clients to bring their products to market more quickly while adhering to regulatory requirements through Tangany’s cryptography custody license.
The Future of Financial Markets
According to Oliver Riedel, Deputy CEO of Baader Bank, “Digital assets will play an essential role in the future of financial markets, and a regulated infrastructure is crucial for this transformation. Tangany has demonstrated the regulatory maturity and technological capabilities necessary to serve large-scale financial institutions.”
Path Forward: Partnerships and Growth
Since its previous seed funding of €7 million led by Nauta Capital in 2022, Tangany has experienced robust growth, now securely holding over €3 billion in digital assets. This remarkable achievement highlights Tangany’s integral role in the European financial ecosystem. The company plans to strategically onboard a select number of banking partners who align with its vision and values.
Conclusion: A Bright Horizon for Tangany
As Tangany continues to grow, industry leaders like Thomas Muchar from Elevator Ventures and Carles Ferrer from Nauta Capital emphasize the company’s impressive trajectory and product viability. With a projected income doubling by 2024, Tangany is set to play a pivotal role in shaping the future landscape of digital asset custody in Europe.