Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Bitpanda’s Valuation Hits $4.1B After Netting $263M in Series C Funding Round

CryptocurrencyAug 18, 2021 05:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Bitpanda’s Valuation Hits $4.1B After Netting $263M in Series C Funding Round

  • Valar Ventures, a VC firm co-founded by Peter Thiel, led Bitpanda’s Series C financing round.
  • Other investors in the funding round include Alan Howard, REDO Ventures, and Jump Capital.
  • The funding round raised $263 million – Bitpanda intends to use these funds for expansion.
  • Compared to competitors such as Revolut and eToro, Bitpanda still has a long way to go.

Bitpanda, an Austrian crypto trading platform, has more than tripled its valuation in five months. Earlier today the platform was valued at $4.1 billion after its Series C funding round raised $263 million. Reportedly, Valar Ventures spearheaded this investment round alongside Alan Howard and REDO Ventures. Existing investors such as Leadblock Partners and Jump Capital also took part in the financing round.

According to the report, Bitpanda was worth $1.2 billion after its private financing round in March 2021. At the time, the company had managed to net $170 million. With the funds from the Valar Venture-led funding round, Bitpanda has now raised close to $500 million.

Explaining why Bitpanda decided to settle for private investments, the firm’s co-founder and CEO, Eric Demuth, signalled his dislike for fundraising due to its time-consuming nature. Fortunately, Bitpanda has a close connection with partners that have deep pockets. As such, doing the complete roadshow was unnecessary.

Demuth added that Valar Ventures and Bitpanda both intended to maintain their ongoing relationship and, as a result, the entire investment process was smooth.

A Rapidly-Growing Platform

Since Bitpanda launched as a crypto broker in 2014 the project has evolved into a well-rounded investment platform that lets people inject their money into a range of products. At the moment, the platform boasts 3 million users, making it one of the fastest-growing FinTech companies in Europe. While this growth is notable, Bitpanda has lofty ambitions that involve expanding into France, Spain, Portugal, and Italy.

Bitpanda is also seeking to license its technology with banks and FinTech startups. While the company has not yet disclosed any clients, it claims that several leading firms are already integrating its system, allowing them to offer crypto and stock trading seamlessly. As such, Bitpanda intends to edge out its competitors that include Revolut, Trade Republic, and eToro.

On The Flipside

  • Although Bitpanda is growing rapidly, it will take a lot of work to topple competitors like Revolut and eToro that have valuations of $33 billion and $9.6 billion respectively.
  • Bitpanda’s growth can be partly attributed to the relatively fair regulatory environment in Europe. With the EU working on new rules to reign in the nascent sector, the platform’s growth might take a hit.

Why You Should Care?

With the crypto market bouncing back from its mid-May crash, Bitpanda has positioned itself for expansion into other countries. Through this expansion, the platform can foster further crypto adoption, pushing crypto prices higher.

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Bitpanda’s Valuation Hits $4.1B After Netting $263M in Series C Funding Round
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email