Success Story: Finoa
Executive Summary
💵 EUR 8.5 m project volume secured through non-dilutive research grants
🔐 Development of a regulated crypto custody platform for institutional investors
"With EUR 8.5m in approved funding, FUNDED helped us turn a rejected grant into three successful applications – a seamless, structured experience from start to finish."
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Interview with Henrik Gebbing, Co-Founder of Finoa
Background Information
Q: Can you provide a brief overview of your company and what you offer?
Henrik Gebbing: Finoa is a leading provider for the secure custody and management of digital assets, specializing in institutional and professional investors. Our mission is to provide secure and intuitive access to the world of crypto assets and decentralized finance (DeFi). With our regulated platform, we eliminate uncertainty and complexity in the management of digital assets and create a reliable infrastructure for our clients - from leading venture capital firms to large corporations and renowned financial institutions.
Q: What specific product or service from FUNDED have you used?
Henrik Gebbing: We utilised FUNDED's grant support service to secure non-dilutive funding for the development of our crypto custody platform. Specifically, FUNDED supported us in applying for the research grant and successfully managed the entire process. This enabled us to submit three successful applications, with a total project volume of around 8.5 million euros for the further development of our custody software. Following the positive decision, we are now using the SaaS software FundedOS for further administration and processing.
Experience with FUNDED
Q: What challenges were you facing before using FUNDED?
Henrik Gebbing: Before working with FUNDED, we had already submitted an application for the research grant, but it was rejected. At that time, we worked with another company, but it was not successful. It was only through FUNDED that we were able to successfully submit the application and receive a favorable decision.
Q: How did you discover FUNDED?
Henrik Gebbing: We came across FUNDED through strong industry referrals and positive feedback from peers who had successfully secured grants with their help.
Implementation and Use
Q: How was the onboarding and implementation process with FUNDED?
Henrik Gebbing: The onboarding and implementation process with FUNDED was extremely proactive and structured. Even before the project kick-off, the team had already intensively analyzed our case and developed a tailor-made strategy for our particular situation. After the kick-off, a clearly structured process with project scoping and workshops followed, which we were able to follow at all times.
Q: How are you using FUNDED’s product or service in your business?
Henrik Gebbing: After the three successful applications for the research grant, we decided to start another project directly with the FUNDED consulting team. At the same time, we are using FundedOS, FUNDED's SaaS solution, to manage the documentation and payouts of the grants.
Results and Benefits
Q: What specific results or improvements have you seen since using FUNDED?
Henrik Gebbing: The consulting team at FUNDED provided a clear structure and valuable contextual expertise, which played a crucial role in securing and maximizing the scope of our grant funding.
Feedback and Recommendations
Q: What do you like most about FUNDED’s product or service?
Henrik Gebbing: The FUNDED team was consistently responsive and exceptionally quick in their work. Clear and seamless communication made for an efficient and smooth collaboration throughout.
Personal Insights
Q: Can you share a bit about your role and background?
Henrik Gebbing: After four years at McKinsey, the idea for Finoa was born in our apartment in Madrid while I was pursuing my master’s degree. Since then, as Co-Founder of Finoa, we've been focused on evolving both our company and the broader crypto ecosystem.
Q: What excites you most about your industry and the future of your business?
Henrik Gebbing: We aim to revolutionize the finance industry by unlocking its full potential. There’s tremendous opportunity to create a better, more seamless experience for everyone involved.
