Cryptocurrency democratiser Coinpanion raises €1.8 million

The past 18 months have seen a dramatic rise (and fall, and rise again) of activity in the cryptocurrency space. There have been winners and losers, but not really much in the way of simplifiers. With the close of a €1.8 million seed round, Vienna-based Coinpanion is seeking to change that.

The startup aims to remove the often steep learning curve in the crypto investing world and offers a “set it and forget it ” service. With an AI-driven blend of pre-selected cryptocurrency portfolios, Coinpanion employs a risk parity model to automatically rebalance portfolios based on market conditions on a weekly basis.

Targeted at both neophyte and battle-hardened investors, with a minimum buy-in of €500, Coinpanion has three offers on tap, each based on risk adversity: Cautious, a 20% crypto/80% stablecoin mix, Balanced, a 60% crypto/40% stablecoin mix, and for the bold, Adventurous, a 100% crypto option.

Co-founded in 2019 by Alexander Valtingojer, Matthias Zandanel, Saad J. Wohlgenannt, and Aaron Penn, the platform entered private beta in the summer of 2020, and currently has a team of 18.

Companion’s €1.8 million seed funding round was led by Germany’s High-Tech Gründerfonds, and saw participation from angel investors Fredrik Debong, Patrick Pöschl, Christopher Oster, Frank Westermann, Florian Gschwandtner, and Austria’s omnipresent Johann “Hansi” Hansmann.

Photo: Olga Kretsch.

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