Meet Nova Finance, The Scottish Startup Aiming To Democratize Crypto Investing

“Basically, Nova Finance aims to make very complex financial skills accessible to everyone,” says Tom Sichel, co-founder of Edinburgh-based crypto startup Nova Finance.

Tom co-founded the company alongside Adam Greenberg with the aim of opening up crypto investing to a new wave of potential investors.

For too long, he says, the crypto space has appeared closed to newcomers. A strange world cloaked in a misty veil of mystery – a space reserved for insiders.

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Tom thinks the initial hurdles investors face when getting into crypto – such as setting up accounts and wallets – can feel inhibitive and limit the potential of the larger ecosystem.

And that’s just the first part of the process. Once an investor is ready to start delving into the space and placing their bets, they are faced with a cacophony of choices and daunting financial decisions.

He saw this process firsthand when he helped his father manage his Bitcoin investment several years ago. Tom says it took him “months just to explain what it is and get it set up with a Coinbase app” – and then the real work started.

“The moment I first put it in [crypto], it was just before the bull run in which we embarked. He loved it, but was going crazy asking me ‘am I selling’ and asking me for new tokens – it was driving me crazy,” he says.

But after watching his dad build on the experience he had amassed during his involvement in the crypto space, Tom realized that there were “millions of people out there in the same boat. “.

Building Nova Finance

Tom reveals that part of Nova’s initial inspiration centered on how to help people like his father invest in these ‘pioneering new assets’ – but in a way that is safe, secure and without the level of risk increased.

At the heart of this is automation, he explains. By automating certain processes, Tom says the startup hopes to “remove emotion” from investing, which, given recent market volatility, seems understandable.

“Emotion can sometimes get you down, especially in these markets where you might have lost 50% of what you invested,” he says. “If you can eliminate those emotions and stick with an investment strategy, you’re more likely to do better.”

With that in mind, the Nova Finance platform caters to two specific types of crypto investors: experienced “degenerates,” as they’re known in the DeFi space, and newcomers who dip their toes into the game. .

For the former, Nova allows them to create a unique portfolio and incorporate their investment thesis into the program. This, he explains, will allow them to automate certain aspects of their investment strategy.

“So that will cover things like automated profit taking or dollar cost averaging,” he adds. “Everything from that to things like reducing volatility or rebalancing your portfolio based on on-chain data.”


By automating investment strategies, Tom believes more experienced investors will reap huge rewards, save time, and refine their strategy based on a data-driven approach that eliminates emotion.

And there are significant benefits for newcomers, too. Rather than opening pasture gates and letting foals roam free, Nova Finance hopes to tackle the difficult learning curve faced by newbies by allowing them to draw on the expertise of seasoned investors.

“It’s for people who bought their first Bitcoin on Coinbase or accumulated some Ethereum. They know what DeFi is, but they haven’t really figured it out yet.

“And for these people, it’s about how we can remove the need to learn complex financial skills to engage and participate in what is essentially a massive wealth-building event.”


To achieve this, Nova engages with experienced crypto investors who can use Nova’s algorithms to create portfolios that follow their crypto investment approach or strategy. This wallet can then be shared with newcomers to the crypto space and allow them to invest more like an experienced person would.

“That means you can start investing in the same way as someone more experienced than you. It allows you to invest like a professional,” he says.

“For us, it’s about mitigating the risk when you first get involved and making those complex financial skills really accessible to everyone.”

Knowledge exchange

Basically, Tom says the platform should be imagined as a collaborative environment for crypto investors, one where knowledge exchange and shared learning is embraced by all.

“You have to think of it as knowledge transfer. As an expert, I’m going to share my portfolio and all you have to do as a newcomer is just deposit, start investing and don’t have to learn any really complicated financial skills,” adds Tom.

Notably, it’s not just newcomers following in the footsteps of more experienced counterparts – seasoned investors are also benefiting. There’s a connected incentive woven into it.

“The experts who created these wallets are going to share some of the costs so they’re incentivized,” he says. “They will make more profit sharing their investment ideas through portfolios than if they go it alone.”

“They monetize their knowledge, while creating and prosperous.

From the perspective of Nova Finance, Tom says the protocol is currently undergoing an audit and is conducting beta testing with the public launch expected in due course.

“Beyond that, we’re aiming for a fully functional consumer-facing app (date to come),” he says. “This is where we will have an audited version of Nova working. At this point, we will have made all sorts of changes and improvements based on feedback from the beta.

Tom notes that although this is a critical time for the startup, the team is rising to the challenge and looking forward to what lies ahead.

Over the past 18 months, the company has grown rapidly. A $3 million investment round in October 2021 accelerated the expansion, and despite tough market conditions, the protocol is starting to raise eyebrows in the thriving Scottish crypto scene and beyond.

“Since fundraising, we now have up to 25 full-time employees. It’s an expanding team, and it ended up doubling in a very short time,” he said.

Basically, Tom says this funding gave the startup the luxury of not being at the mercy of the market right now.

“We are in a very bearish world where raising capital is quite difficult, and a lot of people are more cautious in the crypto space. However, with our investment in place, we are working on our own roadmap.

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Meet Nova Finance, The Scottish Startup Aiming To Democratize Crypto Investing

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