EU-based Crypto Firm Bitpanda Secured $170M to Expand Global Reach

By Emily Rys | March 28, 2021
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Crypto company from Austria Bitpanda has reportedly secured $170 million via a funding round, to continue working on its global reach. 

Specifically, the Series B funding round was reportedly led by Valar Ventures – a venture capital entity supported by PayPal co-founder Peter Thiel. 

Another participating firm was reportedly Yuri Milner’s investment startup – DST Global, which is generally referred to as a top-tier investor across the US-based crypto-friendly stock trading app Robinhood.

While DTX was reportedly a fresh face in investing in BitPanda, Valar has led a $52 million Series A round in the past, in September last year particularly. 

Per Bitpanda, the new funding round has reportedly granted it the status of “Austria’s first unicorn”, via increasing the firm’s valuation to $1.2 billion.

The newly acquired funding will reportedly be directed to expand the scope of its offering to cover throughout Europe, and is looking to build tech hubs and offices in Madrid, Barcelona, London, Paris and Berlin.

Apart from its Austria headquarters, Bitpanda has reportedly already established its presence throughout France, Spain, Turkey, Italy and Poland.

“Now it’s about growing internationally, adding to our existing products and services, and bringing our financial solutions to new audiences,” co-founder and Head of Bitpanda, Eric Demuth, reportedly remarked. 

In addition to its target of international reach, Bitpanda is further having plans down its pipeline to roll out various new solutions across its platform in the upcoming future. including the trading of fractional shares and exchange-traded funds.

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