1.8 Million Euro Seed Funding for Austrian Crypto Investment Start-up
The cryptocurrency investment start-up Coinpanion is receiving € 1.8 million in seed investments from well-known investors in Austria and Germany. The lead investor is the German High-Tech Gründerfonds (HTGF), one of the most active venture capital funds on the European market. Read more about the start-up and those investing in it.
Coinpanion founding team from left to right: Alexander Valtingojer (CEO), Matthias Zandanel (CTO), Saad J. Wohlgenannt (CMO), Aaron Penn (Lead Developer) / Picture: © Olga Kretsch / Coinpanion
After just under a year, the crypto investment start-up Coinpanion is already managing several million euros for its customers and is now receiving € 1.8 million in seed investments from well-known investors in Austria and Germany.
Coinpanion enables everyone, without any prior knowledge, to benefit automatically from the cryptocurrency market. The start-up handles everything, from simple market entry to the automatic management of cryptocurrencies.
The lead investor of the round is the German High-Tech Gründerfonds (HTGF), one of the most active venture capital funds on the European market. Also on board are Florian Gschwandtner, founder of the fitness app Runtastic and jury member of the start-up TV show “2 Minuten 2 Millions,” Austria’s most famous start-up investor Johann “Hansi” Hansmann, who has accompanied Austria's biggest start-up exits (including Runtastic, Shpock, mySugr), and the lead investor of the pre-seed round Frank Westermann, co-founder of the diabetes app mySugr.
Also investing are Patrick Pöschl, co-founder of Munich-based robo-advisor Scalable Capital, which is now rated as a unicorn (over €1 billion valuation), and Christopher Oster, CEO of the insurance manager CLARK.
Bitcoin and Ethereum have been the talk of the town for some time now, but many people are still unfamiliar with terms like Cardano, Chainlink or EOS. This is exactly where Coinpanion comes in. Co-founder and CEO of Coinpanion Alexander Valtingojer explains, “Our goal is to simplify access to the cryptocurrency market for the general public. We are thrilled that we were able to convince some of the most successful entrepreneurs and investors in Germany and Austria of our vision.”
The Coinpanion founding team has big plans for the investment: the € 1.8 million in capital will primarily go towards further growth. “We want to further expand our strong user growth. We also plan to grow from 18 to 50 employees within a year,” says Valtingojer.
About the background of the seed financing, investor Florian Gschwandtner says, “Coinpanion makes cryptocurrency investments presentable by taking care of everything automatically for the customers. Now everyone can become a crypto investor!”
About Coinpanion
Coinpanion was founded in Vienna in 2019 and launched into private beta in August 2020. The platform is now accessible to everyone and manages several million euros of crypto investments for its customers in an automated way. The four-member founding team aims to make the highly complex cryptocurrency market accessible to the general public and thereby simplify investments. The rapidly growing fintech company currently employs 18 people.
Coinpanion enables easy and secure entry into the complex world of cryptocurrencies. Users can choose from different smart portfolios with different risk levels that contain carefully pre-selected cryptocurrencies. Coinpanion then automatically manages the cryptocurrency investment and also offers the option of concluding savings plans. With the Coinpanion app and online access, users always have an overview of their system wherever they are. Each portfolio is protected with the latest security standards, and all cryptocurrencies are insured.