Bitpanda platform raises $ 263 million and sets out to conquer Europe

The Austrian startup to conquer Europe

Founded in Vienna in 2014, Austrian cryptocurrency exchange Bitpanda has just tripled its valuation by raising $ 263 million as part of a Series C funding round. Austria’s first unicorn is now valued at 4 , $ 1 billion.

This colossal investment was led by Valar Ventures, the venture capital fund co-founded by American billionaire Peter Thiel, which very regularly invests in startups related to cryptocurrencies and blockchain. In addition, it is this same fund that led Bitpanda’s previous fundraising, valued at $ 170 million.

This latest Bitpanda funding round also received support from British billionaire Alan Howerd, and REDO Ventures, alongside initial investors LeadBlock Partners and Jump Capital.

Bitpanda CEO Eric Demuth clarified that the funds will be used to stimulate the growth of the platform and energize it by recruiting new talent.

This latest operation brings the total funds raised by the startup to nearly $ 500 million and demonstrates the platform’s ambitions. Bitpanda currently has nearly 3 million users across Europe. Present in 8 European countries, the company plans an “aggressive” expansion in other countries this year.

In addition, Bitpanda is registered as a Service Provider on Digital Assets (PSAN) with the Autorité des marchés financiers (AMF), a necessary condition to be in full compliance with French regulations, and to provide its services in France. .

Towards an IPO for Bitpanda?

Eric Demuth told CNBC that Bitpanda has no plans to go public at the moment. However, if it turns out that one day the company is going down this path, it should follow in Wise’s footsteps.

This money transfer company registered directly on the London market, without raising funds from investment banks to guarantee its offer, nor having resorted to a merger with a company already listed on the stock exchange.

Bitpanda’s CEO has been bluntly asserting that nothing has been set yet, but he has categorically dismissed the idea of ​​a merger with a special purpose acquisition company, or SPAC.

“Bad examples of an IPO are the craze for PSPCs,” he added.

Multifunctional platform, Bitpanda is not only reserved for trading crypto-assets, but also integrates many stocks, indices, ETFs and even precious metals.

👉 To find out more, discover all of Bitpanda’s offers thanks to our complete tutorial on the platform

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About the author: Clément Wardzala


Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have endeavored to share qualitative content so that the sector is democratized among everyone.
All articles by Clément Wardzala.

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