The European Super Angels Club is excited to highlight the latest achievement of Blockpit, one of our portfolio companies specializing in cryptocurrency tax compliance. The Austrian startup, founded by Florian Wimmer, Gerd Karlhuber, Magnus Berchtold, Vladimir Tosovic and Tom Buchsteiner has successfully secured a multi-million investment from Elevator Ventures, the venture capital fund of Raiffeisen Bank International (RBI). Furthermore, this strategic funding marks a significant milestone for Blockpit, following a profitable close of the 2024 fiscal year. 

From Connection to Investment: A Well-Timed Partnership 

For Blockpit’s CEO Florian Wimmer, this investment was a result of a longstanding professional relationship. “We first met years ago but never found the right opportunity to collaborate. Towards the end of last year, we reconnected, and things moved quickly from there,” he recalls. While not actively seeking funding, Blockpit saw strong synergies with Elevator Ventures, leading to a swift and strategic partnership. 

Addressing a Critical Compliance Challenge 

The cryptocurrency market is maturing at an unprecedented pace. With Bitcoin surpassing the $100,000 milestone and the introduction of Bitcoin ETFs outperforming Gold ETFs, crypto is no longer just a speculative asset. It is becoming an integral part of the financial ecosystem. Moreover, governments worldwide are contemplating national Bitcoin reserves, reinforcing crypto’s growing role in mainstream finance. 

However, one persistent challenge remains: compliance. Despite the increasing institutional adoption, less than 2% of crypto holders currently declare their taxes, leaving billions in untapped tax revenue. The complexity of fragmented transaction histories across various jurisdictions makes tax reporting a daunting task for individuals and a regulatory blind spot for governments. 

Blockpit: Pioneering Trust and Transparency 

Blockpit’s mission is clear: to provide trust and efficiency for the financial system of the future. The company has already established itself as a global leader in crypto compliance, with a user base exceeding 350,000 and partnerships with major crypto platforms such as Bitpanda, Bitvavo, Bitget, and Bit2Me. These collaborations highlight the platform’s ability to deliver scalable, effective compliance solutions to both retail and institutional investors. 

Bridging the Gap Between Crypto and Traditional Finance 

Since its founding in 2017, Blockpit has been at the forefront of simplifying tax compliance for crypto-assets. Over time, its platform has expanded to encompass a wider range of financial instruments, keeping pace with industry developments. Regulatory advancements, particularly MiCAR in the European Union, have created a clearer framework for institutional involvement in the crypto sector. 

“The regulatory landscape has finally matured, providing the structure needed for mainstream adoption,” Wimmer explains. This shift has opened new opportunities for institutional investors and major financial players—precisely where Blockpit aims to strengthen its foothold. 

Profitable and Poised for Expansion 

With a strong financial foundation, Blockpit closed 2024 in the black—a significant achievement for any startup. “After seven years of navigating the ups and downs of startup life, we’ve reached a point where we can say we’ve truly made it,” says Wimmer. The fresh capital infusion will enable the company to extend its market reach, particularly into Eastern Europe, where regulatory frameworks are now taking shape. 

“Our strategic focus remains on Europe,” Wimmer emphasizes. While Central Europe has been a key market, Eastern Europe presents new opportunities, and Blockpit is prepared to seize them. 

Expanding Product Offerings Beyond Tax Compliance 

Beyond its core tax solutions, Blockpit is enhancing its offerings with proof-of-funds verification, a critical feature for banking transactions and crypto-exchange transfers. “Tax reporting requires a complete transaction history, and we are one of the few providers offering this level of transparency,” Wimmer explains. This positions Blockpit at the forefront of real-time financial reporting, ensuring compliance with the upcoming DAC8 regulations in 2026, which will significantly tighten tax transparency requirements across the EU. 

Investing in the Future of Crypto Compliance 

Blockpit has found its niche in the evolving crypto economy and is now well-positioned to bridge the gap between traditional finance and digital assets. By reconciling data across platforms and jurisdictions, the company is building a compliance ecosystem that is both seamless and resilient. 

The European Super Angels Club has been a proud supporter of Blockpit since its early days and remains committed to backing its continued success as it scales new heights in the world of crypto compliance.