Connect with us

Resources

Michael Gastauer: Billionaire, Fintech Genius, Black Banx CEO

kokou adzo

Published

on

office, startup, business

In the highly competitive and ever-evolving landscape of the fintech industry, where innovation is the key to success, Michael Gastauer remains low-key in terms of celebrity but stands out in terms of vision and leadership.

As the CEO of Black Banx, he has spearheaded a financial revolution, making borderless banking and cryptocurrency accessible to millions worldwide. Here, we will delve into the makings of the fintech leader of Michael Gastauer, tracing his path from a young and ambitious professional to a fintech pioneer and leader.

We also look into how, using all his experience and expertise combined with his passion for customer service, Gastauer continues to redefine the financial space by way of Black Banx.

Michael Gastauer: The Fintech Visionary

A Young Trailblazer

Michael Gastauer’s journey in the finance industry began with a single step – as a young and ambitious professional at a Munich-based venture capital fund. His early experiences in the industry ignited a passion for innovation and a drive to transform the financial world.

Founding a Swiss Asset Management Firm

At the remarkable age of 24, Gastauer took the entrepreneurial plunge and founded his first company – a Swiss asset management firm. What’s truly astonishing is that this fledgling firm soared to over CHF 1 billion in assets under management (AUM) in less than three years. Gastauer’s knack for financial wizardry was evident, and it didn’t go unnoticed.

In a significant milestone, he eventually sold the firm to a Swiss investment powerhouse for a staggering CHF 16 million. This early success set the stage for Gastauer’s ascent in the fintech arena.

Pioneering Global Payment Solutions

Gastauer’s journey continued with his venture into online payment systems. In a rapidly digitizing world, he foresaw the need for global card acceptance and payment processing solutions for the burgeoning eCommerce business. His vision led to the creation of a groundbreaking platform that not only met this need but exceeded expectations.

Under his guidance, the company achieved sustained development and profitability, ultimately valuing it at an impressive €480 million. This fintech prodigy had once again demonstrated his Midas touch. In 2008, he sold the company, marking yet another triumph in his entrepreneurial career.

The Birth of Gastauer Family Office

Following the successful sale of his second venture, Gastauer embarked on a new endeavor – the Gastauer Family Office (GFO). This single-family office manages an astonishing €10 billion in assets. It serves as a testament to Gastauer’s financial acumen and strategic foresight.

The Gastauer Family Office doesn’t stop at managing assets; it also plays a pivotal role in shaping the future of fintech. It boasts a venture capital arm that actively invests in financial technology firms. Gastauer’s commitment to fostering innovation within the industry is unwavering, as he continues to support and nurture the fintech leaders of tomorrow.

Black Banx: A Fintech Pioneer

Unlocking Borderless Banking

Black Banx, under the visionary leadership of Michael Gastauer, was founded in 2014 with a mission – to unlock a borderless financial system for everyone. It officially opened its doors to the public in 2015, and within the first year, it had already gained the trust of over 200,000 customers. The journey had begun.

Global Presence and Services

Today, Black Banx operates in over 180 countries, offering both private and business accounts in 28 FIAT currencies and 2 cryptocurrencies. This unique offering has made cross-border transactions as simple and seamless as transacting locally for its customers. The borderless banking revolution was well underway.

Expanding Horizons

In 2016, Black Banx expanded its global footprint by establishing offices in the USA, UK, and Hong Kong. It was also during this pivotal year that the company ventured into the world of cryptocurrency, offering it as a deposit method. This bold move propelled Black Banx to increase its customer base to a staggering 1 million.

Tripling Customers and Global Expansion

The year 2017 marked another milestone as Black Banx tripled its customer base to reach 3 million. Offices were established in Singapore, Brazil, India, and Russia, cementing the company’s status as a global fintech force.

Fully Fledged Crypto Currency Trading

In 2018, Black Banx took a giant leap forward by launching fully-fledged cryptocurrency trading, featuring Bitcoin (BTC) and Ethereum (ETH). Simultaneously, the company expanded its presence by opening offices in Canada.

Unstoppable Growth

The momentum continued in 2019 as Black Banx expanded further, setting up offices in the UAE and South Africa. By this point, it had amassed an impressive 8 million customers. The fintech powerhouse was on an unstoppable trajectory.

Michael Gastauer’s Impact on the Fintech Industry

A Trail of Innovation

Michael Gastauer’s impact on the fintech industry is nothing short of profound. His journey from a young professional to a fintech giant is marked by a trail of innovation, bold decisions, and a relentless pursuit of excellence.

Influencing Borderless Banking

His leadership at Black Banx has not only transformed the company but also influenced the entire concept of borderless banking. By providing seamless cross-border transactions, Black Banx has enabled individuals and businesses to navigate the global financial landscape with ease.

Under Gastauer’s stewardship, Black Banx has also successfully ventured into the world of cryptocurrency. This move not only showcased the company’s adaptability but also contributed to the wider adoption of cryptocurrencies as a legitimate financial asset.

Black Banx Recent Success in 2023

Record-Breaking Revenue

In a financial landscape rocked by the COVID-19 pandemic, Black Banx emerged as one of the standout success stories. The company recorded revenue figures of $1.1 billion by the end of 2022, a testament to its resilience and innovative approach.

A Remarkable Year

Fast forward to 2023, and Black Banx’s success story continues to dazzle. The company has added over 6 million new customers in just the first half of the year, bringing its total customer count to an astonishing 28 million. The fintech revolution shows no signs of slowing down.

Rapid Expansion

The growth didn’t stop there. Black Banx’s revenue soared by 47% to an impressive $997 million in just six months. This rapid expansion demonstrates the company’s ability to conquer new territories and capture the imagination of millions.

Onboarding at Unprecedented Rates

Black Banx’s onboarding rate has surged by 33% compared to the end of 2022, underscoring its unwavering commitment to continued expansion. The company is not only reaching new heights but also welcoming more users into its ecosystem every month.

In the world of fintech, where change is the only constant, Michael Gastauer stands as a beacon of innovation and leadership. From his early days in venture capital to founding Black Banx and beyond, his journey has been marked by success, vision, and a relentless pursuit of excellence. Black Banx’s incredible growth

Kokou Adzo is the editor and author of Startup.info. He is passionate about business and tech, and brings you the latest Startup news and information. He graduated from university of Siena (Italy) and Rennes (France) in Communications and Political Science with a Master's Degree. He manages the editorial operations at Startup.info.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Top of the month

Copyright © 2023 STARTUP INFO - Privacy Policy - Terms and Conditions - Sitemap - Advisor

ABOUT US : Startup.info is STARTUP'S HALL OF FAME

We are a global Innovative startup's magazine & competitions host. 12,000+ startups from 58 countries already took part in our competitions. STARTUP.INFO is the first collaborative magazine (write for us or submit a guest post) dedicated to the promotion of startups with more than 400 000+ unique visitors per month. Our objective : Make startup companies known to the global business ecosystem, journalists, investors and early adopters. Thousands of startups already were funded after pitching on startup.info.

Get in touch : Email : contact(a)startup.info - Phone: +33 7 69 49 25 08 - Address : 2 rue de la bourse 75002 Paris, France