Raiffeisen Bank International Invests Millions in Austrian Crypto Tax Software
Raiffeisen Bank International (RBI), through its venture capital arm Elevator Ventures, invested millions of euros in Blockpit, an Austrian startup specializing in crypto asset taxation.
Blockpit, headquartered in Linz and led by CEO Florian Wimmer, recently announced it had achieved profitability in 2024, making it an attractive target for investors seeking to capitalize on the growing demand for compliant crypto services.
The exact amount of RBI’s investment, as well as Blockpit’s valuation, remain undisclosed.
Blockpit’s Expansion Plans: Eastern Europe and Beyond
Blockpit will use the investment to expand into new European markets, specifically in Eastern Europe.
The company will also develop tools for proving the origin of funds for bank withdrawals and crypto exchange transfers.
Blockpit was founded in 2017 and currently employs 30 people. In 2021, the company raised $10 million in a Series A round led by MiddleGame Ventures.
In November 2023, following its 2020 merger with German competitor CryptoTax, Blockpit also acquired Swiss rival Accointing in a multi-million euro deal
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