Thomas Ermel had hoped for more. The Hamburg-based entrepreneur started with his crypto start-up FND Group (formerly Foundation) to collect a total of 500 million euros and invest them in real estate. But the response from small investors remained manageable, consumer advocates criticized the investment conditions and the most important partner, the Bauwens construction group, recently got out again.
In contrast, Ermel was able to land with institutional donors with his blockchain real estate project: FND had collected a total of 100 million euros from large investors, he said in an interview with Finance Forward.
What’s next with his project? You can read that today on Finance Forward, the new finance portal from Personal-Financial.com and OMR. You can register for the daily newsletter here.