EY Law Advises 21bitcoin on 2.1 Million Euro Funding Round

Vienna, November 6, 2023. FIOR Digital GmbH, the company behind 21bitcoin, one of Europe’s leading Bitcoin-only platforms, is pleased to announce the completion of a successful funding round amounting to 2.1 million euros. As a new investor and future-oriented partner, the German Volksbank Raiffeisenbank Bayern Mitte eG is joining 21bitcoin. EY Law has provided comprehensive advice to 21bitcoin throughout the entire transaction process from a regulatory and corporate law perspective.

Despite the currently rather weak global crypto market, the significant amount of the investment demonstrates confidence in the future viability of 21bitcoin’s business model. The company has also achieved steadily growing user and revenue figures on its platform, which allows for straightforward and user-friendly investment in Bitcoin.

The fresh capital will be used by 21bitcoin to strengthen its market position and to continue expanding its business model with new, innovative features. Furthermore, the FinTech is already preparing for the upcoming regulatory challenges associated with the new European MiCA regulation.

The EY Law NewTech team, led by Head of New Technologies and attorney Dr. Martin Hanzl, is among the leading teams in Europe in the field of FinTech consulting and has been supporting 21bitcoin for some time in all regulatory matters and in its day-to-day business.

Dr. Martin Hanzl, Head of New Technologies, on the recent financing deal: “The successful investment is an important step for 21bitcoin. We have already looked back on several successful joint projects and will intensify this collaboration in the future with regard to MiCAR.”

Daniel Winklhammer, co-founder and CEO of 21bitcoin, emphasized the significance of this investment for the further development of the FinTech: “We are particularly proud of the large volume of the investment, as it clearly shows confidence in our past and future path as a company. The financial services industry is undergoing massive change, and we are convinced that we can help shape this change with the support of EY Law.”

Under the leadership of attorney & head of the NewTech department Martin Hanzl, the financing round and other projects of 21bitcoin were supported by Katharina Dabernig (attorney at EY Law Austria), Marie Winter (attorney at EY Law Austria), and Alexander Glaser (associate at EY Law Austria).