HTGF: € 1.8 million for crypto investment start-up Coinpanion
Vienna — A seed funding round of €1.8 million for crypto investment start-up Coinpanion by High-Tech Gründerfonds, co-founders of Scalable Capital and CLARK. Coinpanion allows anyone, without any prior knowledge, to profit from the cryptocurrency market in an automated way. In doing so, the startup takes care of everything from simple market entry to automated cryptocurrency management. After just under a year, Coinpanion already manages several million euros for its customers and is now receiving 1.8 million euros in seed investment from well-known investors from Germany and Austria.
The lead investor in the round is the German High-Tech Gründerfonds (HTGF), one of the most active venture capital funds on the European market. In addition, 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 insurance manager CLARK, are investing. Also on board are Florian Gschwandtner, founder of the fitness app Runtastic and Austria’s probably best-known start-up investor Johann Hansmann, who has accompanied Austria’s biggest start-up exits (including Runtastic, Shpock, mySugr) and lead investor of the pre-seed round Frank Westermann, co-founder of the diabetes app mySugr.
Bitcoin and Ethereum have been the talk of the town for some time now, while many still don’t really know what to make of terms like Cardano, Chainlink or EOS. This is exactly where Coinpanion comes in.
“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. And the Coinpanion founding team has big plans: The 1.8 million euros in capital are to be used primarily for further growth. We want to further expand our strong user growth. We also plan to grow from 18 to 50 employees within a year,” explains Alexander Valtingojer, co-founder and CEO of Coinpanion
“With Coinpanion, a startup is finally democratizing the opaque cryptocurrency market. Now really anyone can become a crypto investor without any prior knowledge,” said Kilian von Berlichingen, investment manager at High-Tech Gründerfonds
Coinpanion makes cryptocurrency investing easy
Coinpanion provides an easy and safe entry into the complex world of cryptocurrencies. Users can choose from different smart portfolios with different risk levels that include carefully pre-selected cryptocurrencies. Coinpanion manages the cryptocurrency investment in an automated way after that and additionally offers the possibility to conclude savings plans. With the Coinpanion app and online access, users keep track of their investment anytime and anywhere. Each portfolio is protected with state-of-the-art security standards, and all cryptocurrencies are insured.
Crypto investment startup Coinpanion was founded in Vienna in 2019 and launched into private beta in August 2020. In the meantime, the platform is accessible to everyone and automatically manages several million euros in crypto investments for its female customers. The four-member founding team aims to make the highly complex cryptocurrency market accessible to the general public, thereby simplifying investments. The rapidly growing fintech company currently employs 18 people. www.coinpanion.com