Berlin-based WealthTech startup NAO has raised €3.4 million in a seed funding round from various family offices, private investors and existing investors, including FinTech veteran Jakob Schreyer and VC Zeitgeist X Ventures.
NAO, which recently won the FinTech Germany Award, is an app-based co-investment platform for alternative investments, opening the door to alternative asset classes such as private equity, infrastructure, or hedge funds, previously reserved for a financially strong elite or institutional investors.
Launched in mid-2023, the firm has struck up partnerships with banks and asset managers such as Baader Bank, Chartered Investments, FERI, UniCredit, UBS, and Vontobel, and expanded into Austria.
The firm claims that 'several thousand' customers now use the NAO investment app and invest an average of around €10,000.
NAO founder and CEO Robin Binder says: "Everyone should be able to invest in alternative asset classes like private equity as easily as they do in stocks or ETFs. That's why we've created the first broker for private and alternative investments. The trust of our investors is helping us realize our vision. With the fresh capital, we want to attract even more top asset managers as partners, expand our customer base internationally, and use our technology to make a previously illiquid market liquid."