Austrian Unicorn Bitpanda Bags US$263 Million, Now Valued at US$4.1 Billionby Fintechnews Switzerland August 18, 2021
Austrian digital investment platform Bitpanda has raised US$263 million in funding at a US$4.1 billion valuation 4 months after gaining unicorn status.
The Series C funding round was led by Valar Ventures, with the participation of Alan Howard and REDO Ventures, as well as existing investors LeadBlock Partners and Jump Capital.
The company will use the proceeds to strengthen its team and design the organisation for scale, while doubling down on state-of-the-art technology, international expansion and growth. Bitpanda added that it also plans to open new offices in Europe.
Founded in Austria in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer, Bitpanda started as a crypto-trading company which now has 3 million users.
The company recently announced the opening of its remote-first Blockchain Research & Development hub where it will be investing €10 million over the next two years.
Four key executive hires have joined the team include; 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.
Eric Demuth, Co-Founder and CEO of Bitpanda said,
“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”.
Featured image: (From left to right) Bitpanda’s Co-Founders Christian Trummer, Paul Klanschek and Eric Demuth.