Fintech Naro Raises $3M to Capitalize on Europe's ETF Market Growth

Cologne-based fintech startup, Naro, has raised $3 million in pre-seed funding to tap into the growing market for ETF products in Europe. Founded in 2022, the startup aims to provide white-label services to banks, funds, and brokers, capitalizing on the rapid growth of the European ETF market. Naro's solution seeks to bridge the gap between brokers and clients, offering bespoke options with lower fees and replacing legacy mutual funds. The funding round was led by Berlin's La Famiglia and will be used to expand the startup's team and forge partnerships with potential customers.