Berlin-based WealthTech startup NAO has secured additional capital of over one million euros through a second closing of its Seed financing push, bringing total funding from the round to €4.5 million.
Serial entrepreneur Jens Hilgers, founding general partner Bitkraft Ventures, is among those participating in the second round, joining the ranks of 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 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.
“The second closing of our seed round supports us in the strategic development and expansion of NAO,” explains Robin Binder, founder and CEO of NAO. “We see ourselves as clear pioneers of a trend that is now also being adopted by major players in the market. The trust of additional investors confirms the success of our business model and our vision.”