PANews reported on March 19 that according to Cryptonews, Austrian bank Raiffeisen Bank International (RBI) has invested millions of euros in Blockpit, an Austrian startup focused on crypto asset taxation, through its venture capital arm Elevator Ventures. Blockpit, headquartered in Linz and led by CEO Florian Wimmer, recently announced that it had achieved profitability in 2024, making it an attractive target for investors seeking to profit from the growing demand for compliant crypto services. RBI's investment amount and Blockpit's valuation have not yet been disclosed.

The deal marks Elevator Ventures’ first foray into the crypto startup space. With this investment, Elevator Ventures hopes to support Blockpit in further expanding its services, which have already been successfully launched in ten countries. Blockpit will use the investment to expand into new European markets, especially Eastern Europe. The company will also develop tools for proving the source of funds for bank withdrawals and crypto exchange transfers.

Blockpit was founded in 2017 and currently has 30 employees. In 2021, the company raised $10 million in a Series A round led by MiddleGame Ventures. In November 2023, following its merger with German competitor CryptoTax in 2020, Blockpit also acquired Swiss competitor Accointing in a multi-million euro deal.