Graz-based startup Trever, a provider of a state-of-the-art infrastructure for digital assets' management, has raised €2.4 million in a seed round co-led by Swiss TX Ventures and Polish Market One Capital. Blockchain Founders Capital and Alex von Frankenberg joined as well.
- Trever was founded by Hans-Jürgen Griesbacher and Benjamin Rath in 2019. The startup’s software provides banks and other financial organizations with a compatible infrastructure and enables trading, transfer, and bookkeeping of digital assets. Trever’s clients include DACH banks like V-Bank, Bankhaus Scheich, Futurum Bank, and many others.
“Our system, developed by industry experts, is ready to equip banks across Europe and beyond. In addition, with prestigious investors on board, we will be able to enter new European markets much more quickly,” said Hans-Jürgen Griesbacher, CEO of Trever.
- The investment round was co-led by two VCs:
- TX Ventures is an independent fintech VC. The areas it invests in are fintech, proptech, insuretech, and digital assets across DACH regions and Europe. With 19 startups in its portfolio, its initial ticket size is €1 million to €5 million.
“Institutional traders need a reliable and efficient go-to-market product, and Trever is bringing the solution on a silver platter for them. In sum, the underlying market trends, the banking-grade solution, and Trever’s execution-oriented team are the perfect ingredients to capture this early market,” said Krzysztof Bialkowski, Managing Partner at TX Ventures.
- Market One Ventures is a pan-European early-stage VC fund that invests in European platforms, infrastructure software, vertical SaaS, and other tech with network effects. It has around 35 startups in its portfolio and a ticket size of up to €2 million.
- The fresh seed funding will be used by Trever to expand further into European markets.
