TUM School of Management graduates in search of investors in Silicon Valley

The world of cryptocurrencies has been expanding rapidly throughout recent years, digital currencies such as Bitcoin have taken the internet by storm and raised serious questions concerning the future of the world’s economy and the concept of purely-digital transactions of goods. For people who deal in cryptocurrencies, it can be hard to keep track of wallets, portfolios and exchange rates as well as finding secure ways to exchange such currencies on the fly. Aiming for this market, Mathias Klenk and Felix Gerlach founded the start-up Coinance one year ago, which focuses on developing a fully-featured and secure tool for cryptocurrency management on mobile devices. Both graduated from TUM School of Management and came up with their product idea during a bootcamp in Munich. At the moment they live in Silicon Valley, where they got to know their partner Dave McGibbon, an ex-GoogleX developer and try to convince investors.

Coinance combines the safety of encrypted access and connectivity with the convenience of being able to log into many different cryptocurrency accounts such as Binance, Bitfinex, Coinbase, Gdax, Kraken and Poloniex with one single login through the app. Moreover, it offers a full portfolio management page and live stock feeds to keep up with exchange rates and news relevant to the client’s portfolio. In the long term it is planned to enhance the application with a payment system, following the example of Chinese platforms like WeChat and Alipay.


Image: Coinance





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