We have become acquainted with 3Folio, a crypto startup based in Linz – Austria. The company has created a portfolio tracking tool for new crypto funds and has enlisted prominent figures from Austria’s crypto industry for its 2022 launch. It is supported by Florian Wimmer (Blockpit) and Peter Augustin (Tigris Web3), among others. Founder Michael Schöngruber has now brought on board Florian Hasibar, who previously served as CFO at Blockpit, as a Co-Founder and COO/CFO.
At Blockpit, Florian was responsible for finance, data, and growth marketing. With his extensive background in finance and startup development, he is an ideal addition to our team and a significant step towards 3Folio’s long-term goal of becoming a leading FinTech provider in the crypto and Web3 sectors. The plan now is to expand the product. In addition to fund managers, the company aims to target customers such as accountants, tax advisors, and banks – in other words, those who possess numerous crypto assets and require a means of managing them.
“We are thrilled to announce the official launch of our crypto portfolio tracking, reporting, and settlement product, designed for fund clients and professional investors. Our goal is to expand our client base and increase our market share through active promotion in the market,” Schöngruber said. He also mentioned that the feedback received thus far has been exceptional. “In addition, we are in the process of developing products tailored specifically for accountants, tax advisors, and banks, which will be released soon.” A financing round is also underway to support the company’s expansion plans.
It will be fascinating to see the level of demand for this product. Presently, the crypto industry is experiencing a downturn after the 2022 crash and fears surrounding the potential collapse of the leading crypto bank, Silvergate. However, there is a growing number of banks and service providers looking to enter the sector. Furthermore, a new EU regulation, MiCA, will take effect in 2024, requiring firms handling crypto assets to comply with numerous rules. In this environment, 3Folio has the potential to make significant strides.