Cryptos

Bitpanda raises $ 263 million in Series C funding round, company aims to ‘double stake on technology’

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Bitpanda, a Vienna-based cryptocurrency platform, announced that it had raised $ 263,3 million in a Series C financing round. Valar Ventures, Leadblock Partners, Jump Capital and Alan Howard led the funding round. Redo Ventures joined in the investment round. Bitpanda now has a valuation of $ 4.1 Billion.

After capital raise, Crypto Unicorn Bitpanda now valued @ $ 4.1 Billion

Digital investment platform BitpandaThe company announced on August 17 that it raised $ 263 millions in a Series-C investment round. The Austrian fintech unicorn is now worth $ 4.1 billion, three times the $ 1.2 billion private valuation.

The company says the funds will be used to “strengthen” the team, “double down” on technology, and Bitpanda is also looking to expand internationally. Bitpanda points out that Series C was signed earlier this month and will need the approval of the Austrian Securities and Markets Authority.

The funding comes after Bitpanda’s May Series B round of investment, in which the company raised $ 170million. Bitpanda was established in Austria in 2014 by Eric Demuth and Paul Klanschek.

The platform currently has 3,000,000 users and estimates that it will achieve 6X customer growth annually. Bitpanda predicts that 2021 revenue will be seven-fold higher than last year’s.

“We have believed in Bitpanda’s potential from the start and are impressed with the results achieved by Eric, Paul, Christian and the Bitpanda team,” said Andrew McCormack, founding partner of Valar Ventures during the announcement.

Bitpanda is following many other crypto companies that have raised millions of dollars such as Paxos and Dune Analytics, Paxos and Bitcoin Suisse. Bitpanda states that it produced its commission-free equity product after the Series B round and launched its B2B marketplace Bitpanda While Label.

“We launched Bitpanda in 2014 with a clear vision: to bring investing closer to everyone, everywhere,” Eric Demuth, co-founder and CEO of Bipanda said in a statement sent to Bitcoin.com News. “We wouldn’t be here today without the efforts of our talented team members who are constantly rolling up their sleeves to make a difference,” he added.

What do YOU think of Bitpanda raising $ 263 Million? Let us know your opinion in the comments below.

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Austria, b2b Bitcoin, BITPANDA and Bitpanda White Label, Christian Trummer. $ 263 Million.

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