Digital investment platform Neufund has collected €4m in a funding round, which was led by Atlantic Labs and Factory Berlin founder Udo Schloemer.
Other backers included Freigeist Capital and DCM founder and managing director Dario Suter.
This investment follows on from a €3.4m Series A funding round raised by Neufund back in 2018.
Having closed the new round, the FinTech is hoping to obtain a financial license, increase the development of new products and hire more staff.
Founded in 2016, Neufund connects companies seeking capital with more than 11,000 investors, including individuals, venture firms, business angels and non-professionals.
Neufund CEO and co-founder Zoe Adamovicz said, “From the outset, we have always strictly followed financial regulations and developed our business around the understanding that digital assets should be regulated like financial instruments.
“With this round, we take a further step in this direction: additional financial license would allow us to expand our list of services and products, while adhering to our compliant and transparent approach. We are thrilled to start this new chapter, and we have big plans ahead.”
Earlier in the year, the FinTech paused its upcoming fundraising campaigns to identify a way to restructure the business to fit the changing FinTech regulations. The company will re-open the platform for entrepreneurs at the start of 2021.
It will prioritise and work with impact-driven small and medium-sized businesses that are, or could be, profitable while serving some of the world’s urgent problems and contributing to sustainable development.
Atlantic Labs founder and CEO Christophe Maire said, “Funding innovative entrepreneurs is typically a complicated: expensive, often geographically inaccessible and time-consuming process.
“Providing a platform based on security tokens is a break-through and an opportunity to solve the problem. We believe Neufund will not only help entrepreneurs, but also impact the way people think about fundraising and even IPOs.”
Earlier in the week, fellow retail investment platform CNote closed a $3m round to support the development of its technology.
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