Bitpanda raises $263 Million at $4.1 Billion Valuation for Fintech Industry

Bitpanda, an Austrian cryptocurrency broker, makes investing an easy task for everyone. The app allows its customers to buy, sell, swap, send and store Bitcoin, Ethereum, gold, and more than 20 other digital assets via phone.

The round was led by Valar Ventures. Andrew McCormack, founding partner of Valar Ventures, comments: “…Bitpanda stands as the living proof that hypergrowth can be achieved in a sustainable way.” Other investors were British hedge fund manager Alan Howard, REDO Ventures, LeadBlock Partners, and Jump Capital. As a result of this round, the valuation triples in comparison with the March valuation – $1.2 billion.

Bitpanda was founded in 2014, by Christian Trummer, Paul Klanschek and Eric Demuth. And now, it has 3 million users and operates in 8 countries in Europe. Four offices, in France, Spain, Turkey, and Italy, were opened in 2020. The team consists of more than 500 people. Nevertheless, it plans to expand as fast as possible. Eric Demuth is sure in success saying: “We are profitable for five years now, constantly, every year.”

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