Scalable Capital founder backs crypto wealth app Coinpanion in €1.8m seed round

The crypto investment start-up also saw backing by investment outfit High-Tech Gründerfonds, as well as a number of other tech angel investors.

Coinpanion, a new crypto platform for retail investors., has raised a €1.8 million in seed investment round.

Those backing the company, founded in Vienna in 2019, include lead investor High-Tech Gründerfonds (HTGF), a venture capital outfit.

Patrick Pöschl, co-founder of the Munich-based robo-advisor Scalable Capital, Christopher Oster, co-founder and CEO of the insurance manager Clark, Florian Gschwandtner, co-founder of fitness app Runtasti, Johann Hansmann, and Frank Westermann, co-founder of the diabetes app mySugr.

The fintech start-up provides says it simplifies the process of investing into crypto including automated allocation into different currencies.

Users can choose from a range of portfolios that the firm says are risk-targeted with pre-selected cryptocurrencies with ongoing savings plans also available.

After a year of going live, it says the platform is now managing “several million euros” in cryptocurrency investments.

“Our goal is to simplify access to the cryptocurrency market for everyone,” said Alexander Valtingojer, co-founder and CEO of Coinpanion.  

“We want to further expand our strong user growth. We also plan to grow from 18 to 50 employees within a year,” Valtingojer added.