Fintech Neufund is back

Neufund ceased operations in the middle of the year following friction with BaFin. Founder Zoe Adamovicz has now announced that she will resume operations in early 2021 with four million euros in investor funding.

Fintech Neufund had actually disappeared from the playing field. Now it has announced that it has raised four million euros. Investors are Udo Schloemer from Factory Berlin, Christoph Maire from Atlantic Labs, Freigeist Capital and Dario Suter from media company DCM.

Neufund was founded in 2016 by Zoe Adamovicz and aims to use a blockchain platform to give small investors the opportunity to participate in the financing of start-ups via equity token offerings (ETO). After initial difficulties, the first start-up, the e-bike manufacturer Greyp, was only financed last year. However, shortly afterwards, the German Federal Financial Supervisory Authority (BaFin) intervened because no securities prospectus had been published for the investment. However, this must be done for all securities offered for less than 100,000 euros in order to provide potential investors with sufficient information. In June of this year, Adamovicz announced that Neufund would be discontinued and also blamed what she saw as BaFin's restrictive and anti-innovation stance. A number of heads in the start-up scene took issue with this statement.

Now Neufund is back: the four million will be added to the Series A financing round of 3.4 million. The investment will be used to further develop Neufund's products, make the offering more user-friendly and apply for a license. In her announcement, Adamovicz says that Neufund will be active again at the beginning of 2021 and wants to focus on small to medium-sized start-ups that deal with sustainability and solving modern challenges.