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Trading platform Bitpanda raises $263M at a $4.1BN valuation – TechCrunch

It’s been less than half a year since the crypto exchange Bit Panda announced $ 170 Million Series B — In March, when Austria’s first unicorn was valued at $ 1.2 billion. Today it surpasses that: with the announcement of the $ 263 million Series C led by Peter Thiel’s Valor Ventures, FinTech startups are now worth a whopping $ 4.1 billion-crypto trading cooks with gas. As it continues, it is more than three times the previous rating.

The round was signed earlier this month, just four months after the business gained unicorn status. Other participating investors include Alan Howard and REDO Ventures, as well as existing investors Lead Block Partners and Jump Capital in Series C.

Of course, there are many exchanges and trading platforms for individual investors. Leading player based in the United States.. However, Bitpanda has established itself by focusing on Europe with offices and physical technology hubs in eight cities in the region, including Vienna, Barcelona, ​​Berlin, Krakow, London, Madrid, Milan and Paris. It has been established.

There is an additional twist on the platform, which will allow approximately 3 million users to easily (free of charge) invest in precious metals (such as gold) and their favorite established stocks. That was the first focus. (The minimum investment set by the platform is 1 euro.)

Despite transcendental diversification, spokeswoman notes that crypto trading remains a “favorite choice” for current users of Bitpanda, noting that equity trading products are still in beta. confirmed. “We have introduced a new way to invest in stocks and ETFs using Bitpanda Stocks. You can invest 24/7, 24/7. This is still in beta and we are constantly adding new assets. However, stock trading is gradually picking up and increasing its share of the overall trading. “

Recently (June), Bitpanda has expanded into the b2b market. This provides a white label platform that allows other fintechs and banks to offer transactions to their own clients.

The combination of this product and regional focus allowed the platform to quickly acquire new users. Bitpanda says 2021 revenue is projected to grow seven-fold year-over-year, and achieving six-fold year-over-year customer growth is “good.”

Series C funding will be used for international expansion and growth, according to a press release, to further increase staff (more than 500 at this stage) and prepare for further expansion of the business.

Technology and products are also set to flourish with Series C funding.

Co-founder and CEO Eric Demuth said in a statement: You can’t be here today without the efforts of talented team members who are constantly “rolling up their sleeves” to make things happen. We are grateful to share our journey with these wonderful people. Therefore, our focus is to continue to strengthen our team by bringing in world-class talent. We are also grateful for the self-confidence vote we received. Old and new investors in this investment round. We look forward to working together to shape the future of finance and grow Bitpanda into Europe’s number one investment platform.
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A Bitpanda spokeswoman also said that international expansion and growth are “important priorities,” adding: This also means strengthening Bitpanda’s position in existing markets such as the DACH region, Spain, France, Italy and Poland, and entering new markets such as the UK and Central and Eastern European markets. “

In another supporting statement, Valar Ventures founding partner Andrew McCormack said: With more than 1.2 million users in the first half of 2021, remarkable net revenue growth and world-class executive recruitment, Bitpanda stands as a living proof that super-growth can be achieved in a sustainable way. We are happy to work with you to create a world where everyone can invest quickly, wherever they are. “

Trading platform Bitpanda raises $263M at a $4.1BN valuation – TechCrunch Source link Trading platform Bitpanda raises $263M at a $4.1BN valuation – TechCrunch

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