German fintech startup Naro exits stealth mode with €2.7M pre-seed funding: Know more
Summary
Berlin-based Naro, a fintech company, announced on Thursday that it has secured $3M (approximately €2.7M) in a pre-seed round of funding co-led by La Famiglia (now part of General Catalyst) and Discovery Ventures. Other investors, including the founders of European unicorns Flix and Forto, other VCs Angel Invest and Robin Capital, and operators with leadership experience at fintech companies like Liqid, N26, Plaid, and Trade Republic, participated in the funding round. This way, they can redistribute their earnings to private investors, resulting in lower fees and higher interest for the end user of the products.” With Naro’s help, companies can create their investment products, such as ETFs and funds, without any operational or regulatory burden. We then tailor the investment products in conversation with the companies, a process we call “Solutions Engineering,” based on the preferences and regulatory requirements,” adds Püllen. While many areas of the fintech market have undergone significant transformation in recent years, fund infrastructure has remained largely untouched by digitalisation.
Funding
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