Tangany, a BaFin-regulated digital asset custodian, raised €10 million in a Series A funding round to scale its regulated crypto custody infrastructure across Europe.

Executive Summary

Tangany, a Munich-based, BaFin-regulated digital asset custodian, has secured €10 million in Series A funding. The round was led by Baader Bank, Elevator Ventures (the VC arm of Raiffeisen Bank International), and Heliad Crypto Partners, with participation from existing investors HTGF and Nauta Capital. The funding aims to facilitate Tangany's expansion of its regulated crypto custody infrastructure across Europe, aligning with the upcoming Markets in Crypto-Assets (MiCA) regulation.

The Event in Detail

Tangany's Series A funding round of €10 million will be used to scale its operations and development efforts across Europe in preparation for MiCA implementation. The company offers white-label custody solutions for crypto and tokenized assets, utilized by over 60 institutional clients, including eToro, Bitvavo, Finanzen.net ZERO, and FlatexDEGIRO. Tangany's technology enables these clients to integrate blockchain functionality into their products via API.

Since its €7 million seed round in 2022, Tangany has more than doubled its revenue and increased assets under custody from €400 million to €3 billion. The company emphasizes its commitment to security, utilizing technologies like HSM (Hardware Security Modules) and MPC (Multi-Party Computation) to protect customer assets. These assets are held separately from Tangany's own and are not recorded on the company’s balance sheet, ensuring they do not form part of the insolvency estate.

Market Implications

The funding and expansion plans position Tangany to capitalize on the evolving regulatory landscape in Europe, particularly with the impending MiCA regulations. Oliver Riedel, Deputy CEO of Baader Bank, noted that > "digital assets will play a critical role in the future of financial markets and regulated infrastructure is key to the transformation."

Tangany's early BaFin regulation and preparation for full MiCA licensing may allow it to capture market share from competitors who cannot meet the requirements within the July 1, 2026 deadline for full compliance. As of 2025, 91% of companies providing digital asset services to European customers were not compliant with MiCA.

Expert Commentary

Martin Kreitmair, CEO and co-founder of Tangany, stated that the funding is indicative of institutional trust, noting that > "well-established firms backing the company will further strengthen their position in the market."

Kreitmair further added, > "Their involvement reflects our shared commitment to secure, regulated digital asset infrastructure. At the same time, Tangany remains fully independent. Our shareholder structure now mirrors our ambition: becoming an integrated part of Europe's financial system."

Broader Context

Traditional banks are increasingly embracing digital asset custody through strategic equity investments, as demonstrated by the participation of Baader Bank and Raiffeisen Bank International in Tangany's funding round. This approach allows traditional banks to gain exposure to crypto custody technology while avoiding the direct regulatory and operational complexities of building these capabilities in-house. Market data indicates that 68% of surveyed financial institutions plan to adopt or expand custody services.