In order to further the firm’s International growth, an Austria cryptocuurency firm, Bitpanda has raised $170 million funding.
Backed by Paypal co-founder, Peter Thiel, a venture capital firm, Valar Ventures led the current series B funding round. Also, a major investor Aamerican crypto-friendly stock trading app Robinhood, Yuri Milners investment DST Global as announced by Bitpanda are partners in the current series B funding. In September , 2020, Valar led a $52 million Series A round while DST investor new to Bitpanda.
Bitpanda is now acknowledged as the ‘Austria first Unicorn’ based on the valuation of the company being raised to $1.2 billion.
There are plans of Bitpanda to set up offices and tech-hubs across Europe, in London, Paris, Madrid and Berlin and all these are premised on the funding. There have been expansion of Bitpanda into Spain, Italy, Turkey, Poland and France and this is apart from its headquarters in Austria. Bitpanda are going internationally, inordder to bring solutions financially to new audience according to Eric Demuth the CEO of Bitpanda.
There are some new products Bipnada is intending to introduce, which is apart from their new products and this is apart their expansion. These products ranges from exchange traded funds and fractional shares.
Bitpanda initial focus when it was founded in 2014, was investment and trading services for cryptocurrencies like Bitcoin, but in recent times it has expanded more investment options.