Osborne Clarke advises Redstone on seed financing round of NaroIQ

Osborne Clarke has advised Redstone on its investment in the fintech NaroIQ as part of a USD 6.5 million seed financing round.

NaroIQ enables institutional providers, from banks to insurance companies to asset managers, to quickly, cost-efficiently, and fully digitally launch their own ETF and fund products. Thus, the startup offers a European alternative to the currently US-dominated fund administration.

The Cologne-based company has now successfully completed a seed financing round of USD 6.5 million. In addition to Redstone, existing investor General Catalyst also participated; the round was led by venture capital investor Magnetic. With the newly acquired capital, NaroIQ aims to further develop its technological infrastructure and scale its platform for digital ETF and fund operations. The first ETF and fund products are expected to go live this year.

The Osborne Clarke team that advised Redstone, led by Maximilian Vocke, consisted of Dana Alpar and Vanessa Petre Linbenciuc (all Corporate / Transactions).