# SmartBytes

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/smartbytes

- Industry: Financial Services
- Headquarters: Vienna, Austria
- Website: www.coinpanion.com
- Total disclosed funding: $5.8M
- Latest round: Seed (Apr 12, 2022)
- Investors on record: 6

## About

SmartBytes GmbH, based in Vienna, Austria, is an innovative investment firm that specializes in cryptocurrency solutions, providing a comprehensive platform for both individual and institutional investors to navigate the crypto market effectively.Founded in 2019 in Vienna, Austria, SmartBytes GmbH operates primarily as a cryptocurrency investment platform. The company has successfully completed 3 deals, with its most recent funding round occurring on April 12, 2022, where it raised USD 3.7 mn in SEED funding from investors including Blockchain.com Ventures and NYDIG Asset Management. The company is co-founded and led by Alexander V, who has a background in tech entrepreneurship.Coinpanion, now integrated into the newly established platform Altify, primarily provides an investment platform that combines various cryptocurrency investment options. The service allows users to invest in both individual cryptocurrencies and curated Crypto Bundles, aimed at simplifying the investment process for both novice and experienced investors. Altify's advanced multi-exchange trading system enhances pricing, ensuring users access better market rates. The platform prioritizes security through its partnership with Fireblocks, a leading digital asset security provider, which safeguards users' assets. Altify targets a diverse customer base that includes individual investors, institutions, and wealth management firms across multiple geographical markets, particularly focusing on regions with increasing interest in cryptocurrency investments.The revenue model for Altify, as part of its offerings from Coinpanion, is primarily based on transaction fees for trades executed on the platform. Clients engage with the platform by creating accounts and making investments, which incur fees that can be as low as 0.25% per transaction. This structure facilitates direct-to-consumer interactions, making it accessible for individual investors looking to diversify their portfolios in the cryptocurrency space. Furthermore, the platform's new investment opportunities and reduced fees are designed to attract a broader clientele, enhancing user engagement and loyalty. While specific pricing plans for various products or services have not been disclosed, the focus remains on delivering value through competitive pricing and improved investment options, all aimed at promoting long-term wealth accumulation for users.In April 2022, SmartBytes GmbH raised USD 3.7 mn in SEED funding, which is part of a larger USD 5.5 mn seed funding round. This funding will be utilized for growth and expansion in Europe, with plans to introduce new products and enhance existing features on the Altify platform. The company aims to penetrate new markets, focusing on regions that show a growing interest in cryptocurrency investments, thereby broadening its customer base and enhancing overall engagement. Specific timelines for product launches and geographic expansion are currently under development.

## Funding rounds

- Seed, Apr 12, 2022, $3.7M — Wicklow Capital, Ledger SAS, Crusoe Energy Systems LLC, Blockchain.com, NYDIG Asset Management
- Seed, Aug 31, 2021, $2.1M — High-Tech Gruenderfonds

## Investors

- High-Tech Gruenderfonds (https://capitalatlas.ai/funds/high-tech-gruenderfonds) — Seed
- Wicklow Capital — Seed
- Ledger SAS — Seed
- Crusoe Energy Systems LLC — Seed
- Blockchain.com — Seed
- NYDIG Asset Management — Seed