Connect with us

Featured

Bitpanda Raises 263 Million and Breaks Through 4 Billion Valuation

Four months after achieving its unicorn status, the fintech company Bitpanda has recently closed a funding round of $307 million (€263 million) led by Valar Ventures. The creation of Eric Demuth, Paul Klanschek, and Christian Trummer, since its founding in 2014 has transformed to become an investment platform that goes beyond crypto with 3 million users.

Published

on

A new round of funding for the Austrian fintech company Bitpanda, which has recently launched in Italy and is able to strengthen its status of “unicorn”, a startup valued at more than one billion. The company’s valuation has indeed reached $4.8 billion (€4.1 billion) following the $307 million (€263 million) round led by Valar Ventures, with which – Bitpanda itself explained – it intends to “strengthen the team and design its organization on a large scale, further increasing the technology, growth and international expansion plan.”

Find more details about Bitpanda and read the latest finance news with the Born2Invest mobile app.

Bitpanda now has 3 million users

The attention of investors for the Fintech sector is part of a context of strong growth of digital channels combined with financial services: a dynamic that was already in place and that Covid has further accelerated, both for digital penetration linked to lockdowns and for the use of data and artificial intelligence to carry out processes more quickly.

And, on the other hand, also cryptocurrencies – on which one can operate through Bitpanda, which was born just for the trading of this kind of activity – are back from days of strong recovery: in the weekend Bitcoin exceeded the $48,000 mark, after the violent correction that had halved the peaks of April ($64,000) until below $30,000. Leap, combined with that of other cryptos such as Ethereum and Cardano, brought the value of the entire cryptocurrency market back above $2 trillion on Saturday for the first time since mid-May according to CoinMarketCap data.

SEE ALSO  CEO Spotlight: Netflix’s Reed Hastings

Against this backdrop, Bitpanda – four months after achieving unicorn status – closed a Series C round that, in addition to Valar Ventures, featured Alan Howard and REDO Ventures along with existing investors Leadblock Partners and Jump Capital. The creation of Eric Demuth, Paul Klanschek, and Christian Trummer, since its founding in 2014 has transformed to become an investment platform that goes beyond crypto with 3 million users.

In April, a note recalls, the company announced the expansion of its product offering by introducing commission-free shares in which it could invest around the clock. In June, it tapped the potential of the B2B market with Bitpanda While Label, offering its infrastructure to fintech companies or banks that want to offer trading services to their customers. In addition to its Vienna office, Bitpanda has offices in Barcelona, Berlin, Krakow, London, Madrid, Milan, and Paris. The stated goal of co-founder and CEO Eric Demuth is “to make Bitpanda the number 1 investment platform in Europe, and beyond.”

__

(Featured image by geralt via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in la Repubblica, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Desmond O’Flynn believes in minimalism and the power of beer. As a young reporter for some of the largest national publications, he has lived in the world of finance and investing for nearly three decades. He has since included world politics and the global economy in his portfolio. He also writes about entrepreneurs and small businesses, as well as innovation in fintech, gambling, and cannabis industries.