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Coinpanion: Austrian crypto startup raises seed round to over €5M

Coinpanion-funding

Coinpanion, the Austrian startup offering easy access into the world of crypto investments, increased its seed investment from last autumn which was €1.8 million to a total of €5.5 million – one of the highest seed investments in Austrian startup history. 

The investors included US-based  Wicklow Capital, early-stage investor in crypto-custodians Ledger, Blockchain.comNYDIG and Crusoe Energy Systems; Andreas Kupke and Moritz Thiele, the founders of credit comparison platform Finanzcheck.de; as well as the former CMO of crypto exchange platform Bitpanda.com, Michael Pötscher.

During the seed raising round, Coinpanion was able to secure further support from successful investors from the Austrian startup scene. Among these, Busuu founder Bernhard Niesner, Gerald Resch (Secretary General of the Austrian Banking Association), Johannes Braith (Storebox founder), Tractive founders Michael Hurnaus and Wolfgang Reisinger, as well as Lucanus Polagnoli, founder of VC Fund Calm/Storm Ventures.

As part of the additional financing, existing investors, and superstars of the Austrian investor scene, Florian Gschwandtner (Runtastic), Hansi Hansmann (Durchblicker, Playbrush, Shpock, MySugr, among others) and High-Tech Gründerfonds followed up on their previous investment Coinpanion in its further growth and expansion. 

“In recent years, the paradigm shift created by crypto assets and Web 3.0 technologies has achieved truly mainstream recognition worldwide. However, managing and custodying investments in such a fast-moving space remains extremely difficult for many retail consumers. Coinpanion offers a straightforward and transparent way to get exposure to the crypto revolution at a risk level everyone is comfortable with, all within a clear product interface that remains fully compliant with the evolving regulatory climate”, comments Wickflow Capital, their investor.

Founded in Vienna in 2019 by Aaron Penn, Alexander Valtingojer, Matthias Zandanel, Saad J. Wohlgenannt, the fintech platform enables anyone to profit from the cryptocurrency market without requiring in-depth knowledge. The company accompanies the customer through the entire process: from simple market entry to ongoing optimisation of crypto investments and automated tax reporting.

“The demand for investments beyond the stock exchange is growing rapidly in Europe. With our offer, we create easy access to innovative assets such as cryptocurrencies, NFTs or the Metaverse for everyone and want to quickly expand to other countries as well as further grow in Austria. In addition to developments of the app functions, we also want to include more investment opportunities in the existing service in particular,” says Alexander Valtingojer. 

The easy way to invest in the crypto revolution

Coinpanion enables everyone to easily and safely enter the complex world of cryptocurrencies. Users can choose from different smart portfolios, which revolve around innovative technologies such as NFTs, the Metaverse and cryptocurrencies. The company focuses on all-round, worry-free packages, providing automated savings plans and free tax reports in addition to the portfolios provided. According to Coinpanion, getting started should take less than five minutes.

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