Austria-based fintech Bitpanda, following a $263m funding round, is now valued at $4.1bn.
The Series C investment round for the investment platform was led by Valar Ventures. LeadBlock Partners, Jump Capital, Alan Howard and REDO Ventures also took part.
This round of funding came just four months after Bitpanda achieved unicorn status and was signed off by the Austrian Finance Market Authority. The proceeds will be used to strengthen the Bitpanda team and design the organisation for scale, as well as international expansion and growth.
Eric Demuth, co-founder & CEO of Bipanda, said: “We started Bitpanda in 2014 with a clear vision: to bring investing closer to everyone, everywhere. We wouldn’t be here today without the efforts of our talented team members who are constantly ‘rolling up their sleeves’ to make things happen. We’re grateful to share our journey with these incredible people — and that’s why a key area of focus for us is to keep strengthening our team by bringing onboard world-class talent.
“We’re also grateful for the vote of confidence received from our investors, old and new, in this investment round. We look forward to working together as we shape the future of finance and grow Bitpanda into the #1 investment platform in Europe and beyond.”
Andrew McCormack, founding partner of Valar Ventures, added: “We believed in Bitpanda’s potential from the beginning and we are impressed by the results that Eric, Paul, Christian and the Bitpanda team have achieved. With more than 1.2 million users acquired in the first half of 2021, impressive net revenue growth and world-class executive hires, Bitpanda stands as the living proof that hypergrowth can be achieved in a sustainable way. We’re excited to further work together to bring the world of investing at the fingertips of everyone, anywhere.”
Founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer, Bitpanda started as a crypto-trading company. It now has three million users.
Four members have been appointed to the team to shape the future of Bitpanda: Lindsay Ross, ex-Adyen and MessageBird, as chief HR officer; Irina Scarlat, ex-Revolut and Uber, as chief growth officer; João Luís, ex-Farfetch, as VP of Engineering; and Michael Keskerides, ex-N26, as VP Product.