Our Vision

Cow Level AG is a Swiss company located in the canton of Zug. Our long-term vision is to become a leading investor specialized in technology for the gaming and esports market.

We have a pretty different view of the gaming industry. Even after all-time highs during the covid19 crisis across the industry, we believe that this market is just in its infancy. Technology will evolve, which will require people to do jobs in virtual worlds that machines can not do. Home office and remote work just have been the first step of this global movement towards virtual realities. Check out astonishing facts & figures about the market on our investment site.

The first project we committed to is the First international Play Money Exchange (FiPME). FiPME is a FinTech startup that built an Exchange for virtual goods, similar to NYSE – an Exchange for stocks.  The difference is that FiPME uses a service-based B2B2C business model. On the one hand, it will provide legal certainty to publishers in the transaction of virtual goods by increasing their revenue streams from commissions earned in the secondary market. On the other hand, it enables gamers to quickly and securely trade in-game items and services for cash (€). Click the video to get the big picture directly from the founders.

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Core topics we care about


What is gaming, and why is it important?

Games are an integral part of all cultures and are among the oldest forms of human social interaction. Games are formalized expressions of play that allow people to go beyond immediate imagination and direct physical activity. Standard features of games include uncertainty of outcome, agreed-upon rules, competition, different place and time, elements of fiction, elements of chance, prescribed goals, and personal enjoyment.


How is eSports different from gaming?

We know games ever since. Playing football is a game, but playing in the champions league is a whole different thing. So you can think of it like every eSport is a game, but not every game is eSport. 

Why is a differentiation between games and eSports important? You want to know how to become a professional eSportler?

Digital Art

What is new about Digital Art?

Mike Winkelmann, also known as “Beeple,” recently sold a piece of digital art for ~ US$ 70 Mio. So how is digital art different from the art we know? Does it make sense to own digital art? Where are opportunities in the market as a digital artist?


Why are Exchanges important for society?

Did you know that stock exchanges exist for over 400 years? We want to give you a few examples of why exchanges are so important and how they developed over the centuries. Having two Exchange experts as founders allows us to take you through history with detailed insights from the last three decades.

Investment & wealth

Does investing build wealth?

Investing always is risky, but how risky is it? We want to share some general studies and guidelines with you that help you to make better investment decisions. Of course, mostly in the context of gaming and technology. At no point will this be investment advice or concrete examples of what to buy or sell.


What’s the role of technology?

Did you know that there is a scientific field that studies video games? Technology is great, but at which point does it lead to innovation? How can we as a startup support innovation, and what could you do?

The gaming industry is an innovation machine; let us tell you why.

Interested? Then don't miss our insights!

We will regularly share small stories about our core topics, including unique market insights and company updates. 

Portfolio & Partnerships

FiPME Estonia

The First international Play Money Exchange is the cornerstone of our investment strategy, where we are building a robust ecosystem around it with our other portfolio companies and partners.

b-chain Switzerland

b-chain is based in Switzerland and the first company that is operating an Exchange based on the FiPME software. Within the next months b-chain will be the first regulated operative Exchange for virtual goods worldwide.

PeCfy India

PeCfy is our first Asian partner in India. Delivering an unseen end-to-end experience for sports enthusiasts, PeCfy bridges sports events into the digital world, allowing customers a hybrid experience between real life and digital collectibles and much more.

Team & Advisors


Co-Founder, COO/CTO

Stefan is a pioneer in electronic trading with 15+ years of experience and a developer of various complex trading systems. He is also former Head of Technical Trading for an investment boutique responsible for the largest turnover at EUREX exchange. After a successful exit from the previous startup with Boris, he got passionate about gaming again and decided to build FiPME together.


Co-Founder, CEO

Boris lives exchange trading since pre-electronic times and online gaming from the very beginning and is perfectly competent in both worlds. He was one of the top electricity trader in EU with over $1bln under management and a bookrunner at Germany’s 3rd biggest utility. He also became the 2nd richest gamer in Everquest 2, one of the richest gamer in WoW, and a leader of 80 people guild. 

Benjamin Kratsch


Benjamin is a journalist, storytelling, social media and marketing expert with 10 years of experience in the games business. He has worked for brands like Red Bull & McLaren and built editorial platforms for corporations like NBC Universal kickstarting their own esports league on national TV. Now he helps FiPME to gain traction with the community and secure partnerships with top players of the gaming world.

David Fritscher

Strategic Business Development

David worked several years as project leader & business engineer for an operational risk unit at a swiss bank. Currently he is driving FIPMEs go to market activities. In addition, he is enrolled in TU Munichs professional education program for innovation management, with focus on growth strategies, leadership and intercultural collaboration with asian markets.

Martin Duncanson

Business Consultant

Digital growth expert & marketing data hoarder. Over his 14 years in marketing, he has been responsible for helping multiple business build effective digital advertising campaigns. He had worked in financial markets as a futures trader on Marex Spectron’s London trading floor.

Alexandra Serebrennikova

Partner Management

Alexandra created and implemented marketing, PR, and fundraising strategies for 6 international early-stage IT startups. She also helped raise several million dollars in funding and secured key partnerships for her previous clients, while playing WoW in her free time. 

Jake Patire

Social media manager

Jake is Social media manager at Cow Level & FiPME and responsible for daily operations on all social channels. He is a recent gradute from Bloomsburg University with a Bachelor of Science in Business Administration.


Sarah Nguyen

Influencer Management

Player & client advocacy expert. She has worked in leadership, client success & marketing roles for local organizations as the founder of CSULB Esports Association as well as global firms such as usb financial services & typeform.


Heather Blair

Key Advisor USA

Heather is the founder and president of “Women in Exhibition”, “Cinema eSports Alliance” & “Cinema eSports”.

She is actively supporting us in several topics around marketing and partnerships in the United States of America.

Take part and shape this market


Shares in Cow Level AG will be stored on a hyperledger – this is a distributed blockchain share register run by daura.ch and powered by Swisscom and SIX. This enables our investors to buy and transfer shares at the click of a button.

FiPME (officially “First International Play Money Exchange OU”) is s a Nasdaq registered share and 100% owned by Cow Level AG and Cow Level AG

FiPME is one of Cow Level’s main investments. FiPME is a next generation exchange for in-game virtual items

Cow Level AG is a Swiss holding company, investing in the huge online gaming and esports sector.

Gaming had a big influence on our founders. Therefore they named the company after the secret mission in a famous videogame in the early 2000s, where the cow level was a secret mission to level up your character.

For us, however, FiPME is our secret mission that should enable everyone to level up!

Anything unanswered? Ask our founders directly