Munich-based Tangany, a company focusing on digital asset custody, recently expanded by securing a €10M Series A funding round. This initiative reflects Tangany’s strategy to enhance its digital asset services, emphasizing the importance of the Markets in Crypto-Assets (MiCA) regulation in shaping its operations. The company plans to allocate this investment towards improving its IT infrastructure and expanding its team to better handle regulatory requirements.
In 2022, Tangany had raised €7M in a Seed Round led by Nauta Capital. The company’s advancement since then demonstrates its growing influence in the digital asset market. Originally focusing on foundational technology, Tangany has evolved to become a significant player in the digital custody sector. The company has consistently boosted its credibility by prioritizing compliance with European regulations and doubling its revenue within two years.
Who Led the Funding Round?
The recent funding was spearheaded by financial powerhouses such as Baader Bank, Elevator Ventures from Raiffeisen Bank International, and Heliad Crypto Partners. These companies were joined by existing shareholders like HTGF and Nauta Capital, who reinforced their belief in Tangany’s direction by participating again. This collective effort underscores Tangany’s alignment with well-established financial entities aiming to secure a foothold in the burgeoning blockchain market.
What Innovations Are Introduced?
With over €3B in assets under custody, Tangany is catering to over 700,000 active accounts. The company provides a B2B solution that simplifies the custody of digital assets including cryptocurrencies and NFTs through the integration of blockchain technology. Their modern API and white-label solution assist clients by reducing costs and speeding up time-to-market.
The CEO of Tangany, Martin Kreitmair, expressed enthusiasm about the milestone:
“This Series A round represents more than just capital; it’s a strong signal of institutional trust in Tangany’s vision and infrastructure.”
The focus on maintaining independence while establishing a clear reputation as a robust digital infrastructure provider is evident from Kreitmair’s vision.
“Our shareholder structure now mirrors our ambition: becoming an integrated part of Europe’s financial system.”
These words highlight Tangany’s commitment not only to technology but also to aligning closely with Europe’s financial framework.
Tangany’s platform is currently serving over 60 institutional clients ranging from banks, fintech companies, and major corporations. This wide adoption highlights its capability to fulfill the growing demand for robust and compliant digital asset solutions in today’s financial landscape.
The strategic move led by Tangany to raise capital highlights its outreach in attracting established European institutions. By solidifying its position, Tangany intends to leverage stronger market insights and government regulations to provide resilient digital asset custody solutions. It’s crucial for businesses aiming to navigate the evolving technological landscapes to partner with reliable custodians like Tangany. This direction aligns well with current regulatory trends observed across Europe, allowing businesses to integrate secure blockchain solutions seamlessly.
