Tangany lands seven million euros

The company stores crypto assets and aims to protect them from hacker attacks using blockchain.

The Munich-based fintech Tangany has raised seven million euros in a financing round, according to Finance Forward reports. Most of the money came from European investor Nauta Capital, which has stakes in Mistho and Insurq in Germany, among others. Bonn-based High-Tech Gründerfonds (HTGF), a public-private venture capital investment firm, and Creator Collective Capital (C3 VC) also invested in Tangany.

Tangany offers the custody of digital assets on the blockchain. This is intended to protect investments from hacker attacks, among other things. The company has already acquired the Tezos Foundation, Quirin Privatbank and Exporo as customers. According to the source, the savings banks are also said to have negotiated with Tangany for a crypto pilot project. According to Finance Forward, the company already holds 400 million euros in crypto assets. Compared to the previous year, turnover is said to have increased fivefold.

Tangany was launched in 2019. The founding team consists of Martin Kreitmair, Christopher Zapf and Alexey Utin. The company was funded by the Exist grant in the field of deep tech in 2018. This ultimately resulted in the company being founded in January 2019. The company is aimed at customers throughout the EU and beyond.