Conversation
Highlights

Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech’s most innovative B2B founders. In today’s episode, we’re speaking with Florian Wimmer, Co-Founder and CEO of Blockpit, a crypto tax platform that has raised $15 million in funding. Blockpit is tackling the complex and cumbersome task of crypto taxation, aiming to make it as straightforward and painless as possible for both individuals and businesses.

• Origin Story: Florian’s venture into Blockpit stemmed from personal frustration. As a software engineer with a background in auditing at KPMG and an early adopter of cryptocurrency, he found himself overwhelmed by the taxation complexities brought on by his crypto activities in Austria, one of the first countries with specific crypto tax laws.
• Evolving Business Model: Initially designed as a SaaS product for individual crypto traders, Blockpit has evolved into providing infrastructure as a service, leveraging the extensive data crawling and standardization framework they developed to cater to a broader market.
• Market Focus and Challenges: While Blockpit started with a focus on individual consumers, it’s gradually shifting towards B2B offerings, particularly as impending regulations across various countries will mandate crypto service providers to report user transactions and tax data to government authorities.
• Scalability and Adaptation: Scaling the Blockpit platform to new countries involves understanding and integrating each nation’s unique crypto tax laws, a process that takes between one and three months per country. This scalability is crucial for Blockpit’s growth, as crypto taxation laws vary significantly worldwide.
• Product Differentiation: Blockpit’s competitive edge lies in its comprehensive approach to crypto taxation, offering a product that not only caters to the end-user’s needs but also addresses the regulatory requirements of different jurisdictions. This strategy positions Blockpit as a leading solution in a market with growing demands for crypto taxation services.
• Vision for the Future: Looking ahead, Blockpit aims to establish a global reporting standard for on-chain and off-chain data, aspiring to become the backend standard for crypto transactions, akin to what SAP is for traditional finance. This ambition reflects Blockpit’s commitment to innovation and leadership in the crypto taxation space.