Michael Gastauer is the founder and CEO of Black Banx Group, a digital banking platform that allows users to send, receive, and manage their money worldwide.
In 2015, Gastauer founded Black Banx, which has since become one of the leading digital banking platforms in the world. Black Banx has over 15 million users in more than 180 countries.
In 2017, Gastauer was named “Banking Billionaire and Finance Mogul” by Forbes magazine.
Where did it all begin?
Gastauer was born in Germany and raised in Switzerland. He began his career at Deutsche Bank before moving on to set up his own Asset Management business. Not only is Michael Gastauer with an estimated private net worth of more than €10 billion a leading German entrepreneur and amongst the wealthiest individuals in Europe, he also is a venture capitalist and philanthropist well known in finance technology across the globe.
Black Banx is providing the infrastructure for the future of banking. Black Banx is currently being listed as one of the Techstars in London estimated to be worth more US$50 billion.
Michael Gastauer’s second business venture demonstrated how innovative he is. In early 2000, he was one of the first in Europe to create an online payment system that would offer global card acceptance and payment processing solutions for eCommerce and other online industries.
After successfully and profitably growing the business to a valuation of €480 million, Michael sold it in 2008. Seven years later, he became an investor and founder of Singapore based digital banking group Black Banx.
In less than ten months, the banking group Black Banx achieved a US$ 2.2 billion valuation (Forbes, September 2016), making it the fastest growing FinTech company in Asia.
What did it take to become a billionaire?
Gastauer attributes his success to hard work, dedication, and determination; Michael founded his first company by the age of 24, while completing his Master of Finance. He also believes in taking risks and being fearless when it comes to business. In addition, Gastauer is a strong believer in giving back and supporting causes that are important to him.
What does the future hold?
Gastauer plans to continue growing Black Banx and expanding its reach into parts of the world that have little to no banking infrastructure. He is also passionate about supporting causes that are important to him, such as the fight against financial exclusion and providing access to the financial system for the underbanked.
A spokesperson of Black Banx Group stated in a recent interview: “Our platform is designed to feel personal and trustworthy to everyone–no matter where they’re from or how much money they have. Whether you’re a business or an individual, we provide you with banking options without needless restrictions.
We want to make online banking simpler, decrease transaction times and achieve financial inclusion. This includes people and businesses in countries with well- developed economies, as well as those underbanked in places where access to the financial system is limited or where governments hinder people’s ability to participate fully in the global economy. We’re present across Asia, Latin America, North America, Europe and the Middle East .”
The Gastauer Family Office
The Gastauer Family Office is currently are a leading single-family office managing over €10 billion AUM.
The private wealth management firm exists solely to serve the Gastauer Family and manage their complex financial portfolio through worldwide hedging strategies. This includes but is not limited to various global markets and investments.