Crypto company Bitpanda is now valued at $4.1 billion after the latest funding round
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Answer Crypto company Bitpanda is now valued at $4.1 billion after the latest funding round
Austria-based cryptocurrency exchange operator Bitpanda has raised $263 million in a new funding round led by Valar Ventures.
The company is now valued at $4.1 billion, nearly four times the estimated value of $1.2 billion in March of this year.
According to a reportCNBCBitpanda’s valuation has crossed the $4 billion mark.
This happened after raising $263 million in a new funding round led by Valar Ventures, a US venture capital firm founded by Peter Thiel.
Interestingly, this is the third time Valar Ventures has backed Bitpanda after it led the previous major funding rounds in September 2020 and March 2021.
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Eric Demuth, CEO and co-founder of the Austrian platform, commented:
When you have partners with whom you have close contact, and they have deep pockets, you don’t have to go through a full promotional tour.
Valar wanted to double their size and we wanted to stay with them.
It was a very easy process.
New York-based venture capital firm REDO Ventures, English billionaire Alan Howard, Jump Capital and LeadBlock Partners have also invested in the latest funding round.
Founded in 2014, “Bitpanda” is a brokerage that allows its users to invest in a range of products such as digital currencies, micro-equities, and precious metals.
Two years ago, the number of users of the platform exceeded one million, and now there are more than three million.
Bitpanda has headquarters in several European cities and plans to expand its reach to key markets such as Spain, France, Italy and Portugal.
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