The Europe based leading investment platform Bitpanda announced the closing of Europe’s largest A- Series funding on 29th September 2020 and securing €44.5M for the same. Valar Ventures led the funding. The big-scale investment will expand Bitpanda and transform its position in the European financial world.
Since its foundation in 2014, the company is prospering with double revenue and more than 1.3 million users. The digital investment leader has established itself in the market for dealing with precious metals and digital assets. With its advanced app and websites, the customers can invest in 44 digital assets quickly, handily, and securely. Notably, these assets are backed by state-of-the-art technology. In the year 2020, the company introduced its savings and payment platforms. It will utilize this funding to innovate new ways of investment and trading for its customers, thereby availing assets trading to everyone in Europe.
The growth of the company
The company expanded its wings to France, Turkey, and Spain in 2020 and has planned to enter other European markets in the coming year. In the line of supporting its growth, it is to onboard 70 new team members. It would make the team of Bitpanda have 300 employees by 2020, which will continue to grow further.
The investment also includes the founding partner of Valar Ventures, Andrew McCormack, to join the Bitpanda board. Having a track record of impressive digital growth as being part of PayPal, Andrew is going to pave the way for better growth of Bitpanda. The VC Valar Ventures has invested in many European FinTechs that turned into unicorns later, these counts the German-digital bank N26 and Transferwise.
The Vienna-based FinTech enterprise was founded in 2014 by Eric Demuth, Christian Trummer, and Paul Klanscheck. The company is headquartered in the European Union, Austria, and allows trade with IOTA, Bitcoin, and Ethereum investments. The platform has more than 900,000 users and provides trustworthy investments to digital assets for new and experienced customers. The motive of the company is to be the major driving force of the FinTech revolution with its easy and safe digital investments.
About Valar Ventures
The NYC based business Valar Ventures is a Venture Capital that invests in early and late-stage startups. The VC was founded in 2010 and is backed by Peter Thiel. The venture capital partners with potential entrepreneurs worldwide and believes they will benefit by having a partner that realizes unique challenges and ideas. It has made 87 investments to date.
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