Bitpanda, a crypto platform located in Vienna, has raised $263 million in a Series C investment round. Valar Ventures and Leadblock Partners led the fundraising round, which also included Jump Capital, Alan Howard, and Redo Ventures. Bitpanda now has a market capitalization of $4.1 billion as a result of the new funding.
Following a Capital Round, the Crypto Unicorn Bitpanda Is Now Worth $4.1 Billion
Bitpanda, a digital investing platform, said on August 17 that it has secured $263 million in a Series C funding round. The Austrian fintech startup is now valued at $4.1 billion, more than three times its prior private estimate of $1.2 billion.
The money will be used to “strengthen” the team, “double down” on technology, and expand internationally, according to Bitpanda. The Series C was signed this month, according to Bitpanda, and will need to be cleared by the Austrian Financial Market Authority (FMA).
The funding comes after Bitpanda received $170 million in a previous Series B investment round in May. In 2014, Eric Demuth, Paul Klanschek, and Christian Trummer created Bitpanda in Austria.
The platform currently has 3 million users and is “on course to reach 6x consumer growth year over year,” according to the company. Bitpanda also forecasts a sevenfold rise in income in 2021 compared to the previous year.
“From the outset, we believed in Bitpanda’s potential, and we are impressed by the achievements that Eric, Paul, Christian, and the Bitpanda team have achieved,” said Andrew McCormack, a founding partner of Valar Ventures.
Dune Analytics, Paxos, FTX, Mintable, Bitcoin Suisse, Valr, Coin Metrics, Messari, Truefi, Matrixport, and Lolli are among the other crypto businesses that have raised millions of dollars. Following the Series B funding round, Bitpanda developed its commission-free stocks offering, and in June, it launched its B2B market, Bitpanda While Label.
In a statement provided to Bitcoin.com News, Eric Demuth, co-founder and CEO of Bitpanda, said, “We launched Bitpanda in 2014 with a simple vision: to bring investing closer to everyone, everywhere.” “Without the efforts of our amazing team members who are continuously rolling up their sleeves to make things happen, we wouldn’t be here today,” he said.
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