Germany-based crypto custodian Tangany has received EUR 7 million in a seed round.
The funding is led by Nauta Capital, a European VC specialist. Existing investor HTGF and new investor C3 VC Fund also participated in the round. Tangany offers a WaaS (Wallet as a Service) which provides storage for digital assets such as Bitcoin, Ethereum, stablecoins, security tokens, and NFTs. This supports both hot and cold wallets to provide clients with multiple options to adopt blockchain. Tangany aims to advance crypto adoption and allow organisations to expand their catalogue of financial products while ensuring a smooth transition for their customers. A Nauta Capital representative states that Tangany’s embedded approach allows users to integrate cryptocurrencies into their offering easily.
According to a Tangany representative, with this successful funding round the company begins the next chapter of its development and will enable them to accelerate our growth by expanding our team and continuing to innovate. By the end of 2022, the team is expected to grow to over 50 employees. The new funding will enable Tangany to include additional services to the existing core custody business, including staking and yield farming. On top of this, the company’s business activities will be streamlined through a unified API and a new website interface for customers.
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