Bitpanda, a digital assets platform based in Austria that facilitates the buying and selling of cryptocurrencies, has raised US$ 263 million in Series C funding round on August 17 2021. The financing bout was led by the three-time backer of the company, Valar Ventures, a venture capital firm co-founded by U.S. tech billionaire Peter Thiel. Other investors who partook in the funding round are US-based Jump Capital, Alan Howard, REDO Ventures and UK-based LeadBlock Partners. This fundraiser comes right four months after Bitpanda turned Unicorn, valuing the company at US$ $4.1 billion.
Earlier this month, Bitpanda declared to invest US$ 11.74 million in a blockchain research & development hub, employing 30 full-time developers.
The company is now on its way to achieving customer growth at the rate of 6x year over year, while the revenue is expected to increase seven times in 2021, as compared to the last year. The company has expanded its staff-base and hired four key executives to shape the future growth trajectory of Bitpanda: Lindsay Ross, ex-Adyen and MessageBird, as Chief HR Officer; Irina Scarlat, ex-Revolut and Uber, as Chief Growth Officer; João Luís, ex-Farfetch, as VP of Engineering; and Michael Keskerides, ex-N26, as VP Product.
What The CEO has to say
Co-founder and CEO, Eric Demuth, said: “We started Bitpanda in 2014 with a clear vision: To bring investing closer to everyone, everywhere. We wouldn’t be here today without the efforts of our talented team members, who are constantly rolling up their sleeves to make things happen. We’re grateful to share our journey with these incredible people — and that’s why a key area of focus for us is to keep strengthening our team by bringing onboard world-class talent. We’re also grateful for the vote of confidence received from our investors, old and new, in this investment round. We look forward to working together as we shape the future of finance and grow Bitpanda into the #1 investment platform in Europe and beyond”.
What the Investors have to say
The founding partner of Valar Ventures, Andrew McCormack, comments: “We believed in Bitpanda’s potential from the beginning and we are impressed by the results that Eric, Paul, Christian and the Bitpanda team have achieved. With more than 1.2 million users acquired in the first half of 2021, impressive net revenue growth and world-class executive hires, Bitpanda stands as the living proof that hypergrowth can be achieved in a sustainable way. We’re excited to work together further to bring the world of investing at the fingertips of everyone, anywhere.”
About Bitpanda
Established in 2014 by Christian Trummer, Eric Demuth and Paul Klanschek, Bitpanda is a digital assets platform used to facilitate the buying and selling of cryptocurrencies, fractional stocks and metals. It removes complicated financial barriers by harnessing the innovative power of digitized assets and Blockchain technology. With low fees, 24/7 trading, and real-time settlement, it helps users to shape their financial futures on their own terms. Bitpanda surpassed several milestones in the past year, including growing customers to more than 3 million users and 500 employees. For more information, check out https://www.bitpanda.com/.
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