Berlin-based WealthTech startup NAO has raised over one million euros in a second closing of its Seed financing, bringing the total funding from this round to €4.5 million.
Among the participants in this funding round is serial entrepreneur Jens Hilgers, founding general partner of Bitkraft Ventures, who joins various family offices, private investors, and existing backers like FinTech veteran Jakob Schreyer and VC firm Zeitgeist X Ventures.
NAO, which recently won the FinTech Germany Award, offers an app-based co-investment platform for alternative investments, providing access to asset classes such as private equity, infrastructure, and hedge funds that were once limited to affluent individuals and institutional investors.
Founded in mid-2023, NAO has partnered with banks and asset managers including Baader Bank, Chartered Investments, FERI, UniCredit, UBS, and Vontobel, and has expanded its operations into Austria.
The company reports that “several thousand” customers now use the NAO investment app, with an average investment of around €10,000.
“Our second closing of the seed round will support the strategic development and expansion of NAO,” said Robin Binder, founder and CEO of NAO. “We see ourselves as pioneers in a trend that is now gaining traction among major market players. The trust of additional investors validates our business model and vision.”