The crypto investment startup Coinpanion has secured €1.8 million in a funding round. The investment comes from Florian Gschwandtner, Hansi Hansmann, and High Tech Gründerfonds, and it is aimed at driving the further growth of the company, which was founded in 2019.
According to Coinpanion, the leading investor is the German High-Tech Gründerfonds (HTGF), one of the "most active venture capital funds" in the European market. In addition to Hansmann and Gschwandtner, the leading investor in the preliminary round, Frank Westermann (co-founder of the diabetes app mySugr) is also involved. mySugr had previously invested in September 2020 through sweet.fund GmbH, the investment company founded by mySugr's creators.
"Our goal is to simplify access to the cryptocurrency market for the general public. We are very pleased that we have managed to convince some of the most successful entrepreneurs and investors in Germany and Europe of our vision," explains Coinpanion’s CEO, Waltinger. The capital of €1.8 million will primarily be directed towards further growth. "We are currently significantly expanding our team to become even faster in all processes," adds the specialist.
It’s anticipated that the workforce will increase from 18 to 50 within a year.
With Coinpanion, users transfer their crypto assets or fiat currency to the service, which are then invested in cryptocurrencies according to the rules of an algorithm. Users can choose whether they prefer a conservative investment approach or a more aggressive one. There is also the option to set up savings plans.
According to its own statement, Coinpanion already manages several million euros.
