Fior Digital GmbH, the Salzburg, Austria-based company behind bitcoin platform 21bitcoin, has just raised €2.1M in funding from Volksbank Raiffeisenbank Bayern Mitte eG. In conjunction with the announcement, CEO Daniel Winklhammer replied to our questions about the platform, the round and the investor, future plans. He also shared a bit of advice to BTC “hodlers”.
FinSMEs: Hi Daniel, can you tell us a bit more about yourself? What’s your background?
Daniel: My name is Daniel Winklhammer, and I am from Salzburg, Austria. I completed a technical education and successfully studied Business Informatics in Vienna. My professional career led me through established companies, including banks, insurance companies, and technology corporations, where I worked as an international IT project manager and as a consultant, gaining valuable experience in the traditional economy and financial system.
My growing interest in Bitcoin began in 2011 and fully captured my attention at the beginning of 2017. Over time, I deepened my knowledge of cryptocurrencies and recognized the enormous potential of Bitcoin for our future. This realization eventually led to me co-founding the startup 21bitcoin in early 2020 with my co-founder Dominik Seibold. Our declared goal is to make Bitcoin simple, transparent, and secure for everyone.
FinSMEs: Let’s speak about 21bitcoin. What is the real opportunity?
Daniel: Bitcoin is still a relatively small and nascent asset class. However, with the recent developments including applications for a spot Bitcoin ETF by financial giants like BlackRock, Vanguard and Fidelity Bitcoin becomes more and more accepted in the traditional financial world. This means the financial services industry is in the midst of a monumental change, and our continued growth at 21bitcoin and the participation of an established bank as a lead investor proves that 21bitcoin is at the forefront of this change in Europe.
FinSMEs: What are the features differentiating the product from competitors?
Daniel: 21bitcoin has succeeded in attracting a generation of customers in Europe with a platform for Bitcoin that is significantly different from the incumbents’ offerings – simpler, more humane and with a user experience that gives customers the experience they want. 21bitcoin provides a low entry barrier to the world of Bitcoin by being completely focussed on the major asset in the cryptocurrency space: Bitcoin. Moreover, we provide real-time support from our Bitcoin experts and make it easy to invest in Bitcoin by automating the whole process from signup to the investment itself.
FinSMEs: You just raised a new funding round from a bank. Please, tell us more about it.
Daniel: In an unprecedented move in the European financial industry, 21bitcoin, received a strategic investment from one of Germany’s most established banks. This investment not only represents significant recognition for 21bitcoin and its services, but also symbolizes the profound change in the traditional financial world. The investment will drive our growth so that we can reach and ensure tens of thousands more people that everyone has easy and, above all, secure access to Bitcoin, regardless of who they are or where they are.
FinSMEs: Can you share some numbers and achievements of the business?
Daniel: 21bitcoin experienced extreme growth over the last 12 months (+2,832% revenue) as Europeans became increasingly interested in saving and investing in Bitcoin. We launched the 21bitcoin platform in April 2022, allowing users to securely buy, sell and hold Bitcoin using a simple mobile app. We are already profitable, showing that despite the generally difficult market environment investors are looking for a reputable and reliable way to invest in Bitcoin for the long term.
FinSMEs: What are your medium-term plans?
Daniel: We will use the money to obtain the European MiCAR license, which will give us uniform access to the EU market with 447 million people. In order to be able to sustainably process the growth and continue to enable smooth operations, we need additional experts.
FinSMEs: How long will it take to see Bitcoin valued at 6 digits?
Daniel: It’s not a question of if, but a question of when. However, I do not give any predictions to when. My advice: Stay humble and invest for the long term.
FinSMEs
07/11/2023