Bitpanda, the Vienna-based cryptocurrency trading platform, has recently secured $52 million in Series A funding led by Peter Thiel’s Valar Ventures.
This new round of funding boosts Bitpanda as it looks to accelerate its growth plans. In addition, the new funds will further develop Bitpanda’s platform and expand the team, allowing it to cement its foothold in the European market.
Bitpanda Raises $52M Series A Led by Peter Thiel’s Valar Ventures
Bitpanda is a leading digital asset trading platform based in Europe. Founded in 2014, the company provides retail and institutional investors access to digital asset investment opportunities. Bitpanda’s mission is to make investing in digital assets easy, safe and reliable for everyone. The platform serves customers from more than 30 countries worldwide, including the United Kingdom, Germany, France and Austria.
Bitpanda has many features and services to help users manage their investments effectively. These include an intuitive trading platform, secure wallets integrated with blockchain technology, high liquidity levels and other advanced features such as low latency order executions. The company provides access to major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) as well as emerging coins such as Litecoin (LTC) and EOS (EOS). In addition to traditional coins, Bitpanda also offers access to tokens issued on its platform – the “Pantos” token – which allows users to easily collaborate on projects related to blockchain technology development.
The new funding will provide Bitpanda with resources to accelerate its growth plans. These include deepening its offering across Europe and expanding into Asia Pacific markets. As part of this funding round, Bitpanda also announced it closed a seed investment round secured by venture capital funds Speedinvest and DACH Financial Group AG banking institution haevn AG among other investors. This further validation reinforces the company’s capability to provide investors with leading-edge technologies.
Bitpanda’s Funding Round
Bitpanda, a Europe-based cryptocurrency startup, recently closed a $52M Series A Funding Round led by Peter Thiel’s Valar Ventures. This is a major milestone for the company and will help accelerate its growth plans.
This funding round has already been a major success, with the company being able to secure the funds quickly. Let’s look at how this funding round has helped Bitpanda and the plan going forward.
Overview of the Series A Round
On February 9th, 2021, cryptocurrency broker and trading platform Bitpanda announced that it has closed a €170 million funding round, led by Peter Thiel’s Valar Ventures and with major investors including 5AM Ventures, Coatue, Speedinvest and others. The new funding will help Bitpanda accelerate its growth plans while expanding its ecosystem of products and services.
The new round follows the company’s original seed round of just over €3 million in 2014. This provided the foundations for developing its innovative trading platform, Bitpanda Global Exchange (BGE). Since then the company has grown significantly to become the leading European cryptocurrency broker with millions of customers in Europe alone.
The Round A funding consists of two tranches: a primary $170 million tranche led by Valar Ventures, along with existing investors Speedinvest, 5AM Ventures and Earlybird Invest; and a secondary tranche raised from new investors including Coatue Management, Adit Ventures and Atlas Network Partner Funds. With this additional capital injection, Bitpanda is now valued at €1 billion, placing it firmly among Europe’s most valuable companies in the crypto-asset space.
The financing will be used to accelerate growth both through organic means as well as strategic acquisitions and partnerships across all product categories. Additionally these resources will enable further expansion outside of Europe into North America and other promising markets worldwide. As CEO Eric Demuth explains “This investment puts us in fantastic position to take one step closer towards our mission to become THE bridge between traditional finance and digital assets”
Details of the Investment
On January 20th, 2021, Bitpanda announced the completion of a major funding round led by TP1 Ventures with participation from Harald Seiz and other venture capital funds and investors. The investment totaled €170 million, bringing Bitpanda’s valuation to $1.2 billion. This marks one of the largest single funding rounds for any European fintech company.
The recent fundraising will help accelerate the company’s plans for growth, which include significant investments in its multi-asset trading platform, product portfolio expansion and global expansion plans. Additionally, the new funds will further deepen Bitpanda’s commitment to become a fully licensed bank by 2025. With the new funds injected in to the business, it allows Bitpanda to continue its journey as a revolutionizing financial services provider with further reach and services throughout Europe States and beyond Europe’s borders.
Bitpanda CEO Erwin Vogels stated: “The culmination of this new funding round marks an incredible milestone for us and our talented team at Bitpanda! It gives us access to the necessary resources that allow us to deliver innovative financial solutions that support our mission of making investing accessible worldwide – it has also enabled us to rapidly expand our operations across all areas of the business. Our plan is now firmly in place for international expansion within next years ahead, through collaboration with local partners rather than working directly.”
Bitpanda’s Growth Plans
Bitpanda recently announced a $52 million Series A led by Peter Thiel’s Valar Ventures. This funding round will help Bitpanda accelerate its growth plans, expanding its services and presence in the European markets.
It will also help Bitpanda accelerate the development of new products and features. This article will explore Bitpanda’s growth plans and how this new funding helps them achieve their goals.
Expansion of Product and Service Offerings
With the new funding, Bitpanda plans to expand its current product and service offerings to make cryptocurrency more accessible to users worldwide. This will include increasing EIN sign-ups and supporting the full range of institutional trading types to give institutional investors more tailored access to digital assets.
Additionally, Bitpanda will launch new products, such as a mobile payments solution that lets users easily manage payments via their smartphones. The company plans to integrate blockchain-based financial products into its platform, including new asset management tools and options. As part of this move, Bitpanda will introduce a trust system providing audited cold storage for users and businesses.
Furthermore, Bitpanda plans to create an incubator program that provides an avenue for passionate entrepreneurs with innovative ideas for using blockchain technology in fintech sectors or adjacent technologies such as artificial intelligence (AI) or the internet of things (IoT). Through this program, startups can receive initial guidance about their business model and gain access to experienced teams in areas across engineering, operations and sales & marketing among others.
Expansion into New Markets
After completing a series A funding round, Bitpanda can now pursue its plans for further expansion into new markets. The goal is to bring Bitpanda’s unique take on digital asset investing and trading to more European countries.
To reach this goal, the company plans to use the new funds to become a licensed financial services provider in each country, thus gaining access to each market. In addition, in line with Bitpanda’s customer-centric approach, it will take customer feedback from pilot regions into account when entering additional countries.
Bitpanda also plans on expanding beyond Europe. The company wants to leverage the global network of its parent company, FinTech Global Maximal Group, when scaling beyond its current geographical limits and creating strong tiers of customer support worldwide. This aggressive expansion plan should enable more people worldwide to benefit from secure and reliable digital asset trading and investing services provided by Bitpanda.
Benefits of the Investment
Bitpanda, a European crypto-fintech company, recently raised $52M from Peter Thiel’s Valar Ventures and other investors in a Series A funding round. This investment will help the company accelerate its growth plans and expand its operations internationally.
Let’s look at some of the benefits this investment could bring to Bitpanda.
Access to Valar Ventures’ Network
Valar Ventures is one of the world’s leading venture capital funds, and its extensive network offers access to valuable resources for growth initiatives. In addition, Valar Ventures is renowned for connecting tech startups with potential customers, advisors and partners, who can be difficult to access without external capital.
By joining forces with Valar Ventures, Bitpanda will benefit from its deep knowledge of marketing, international scaling challenges and their vast network of relationships. Access to this wide range of resources will help the company drive greater innovation and scale product solutions more cost-efficient and effective.
Valar Ventures’ concrete support in further investment rounds allows Bitpanda to quickly close new deals and build long-term partnerships valuable for its business process transformation and digitalization goals.
Ability to Accelerate Growth Plans
The new investment will help Bitpanda to achieve its growth plans faster. Bitpanda has developed strong and competitive offerings as Europe’s leading retail platform for cryptocurrency trading, digital asset management and payment services, while maintaining high customer satisfaction. The new funding will further facilitate their ability to accelerate the development of their products and services that the company’s customers trust and rely on.
With this important additional boost, Bitpanda is well-positioned to capitalise on its success and expand into a wide range of projects in Europe, emerging markets around the world, and digital assets in traditional financial markets. The added financial capability will also allow Bitpanda to further scale its infrastructure, operational systems and workforce capabilities more reasonably than previously. The boost to their growth plan will enable them to invest further in enhancing its institutional offering for large corporates at multiple levels with dedicated teams for sales, compliance and customer operations. It also provides an ideal opportunity for strategic acquisitions that would enhance their core product suite, extend their reach geographically, or add technological capabilities quickly without spending precious time on reusability engineering or resource mobilisation from other Divisions or Business Units.
This is great news for anyone who values the transparency, security and convenienceBitpanda has provided over the years – especially now that they can significantly increase both speed of product delivery and expansion rate of future endeavours with this new injection of resources.
Bitpanda’s latest Series A funding round has been a huge success, with the company raising $52M in capital led by Peter Thiel’s Valar Ventures. This money will help Bitpanda accelerate their growth plans and take their ambitions to the next level.
In conclusion, we can say that this new funding round is a significant boost to Bitpanda’s growth prospects.
Summary of Bitpanda’s Series A Round
Bitpanda recently completed its Series A Round, raising €50 million from investors including Valar Ventures and Speedinvest. This news was exciting across the crypto industry, as it marks the highest funding for a European crypto startup.
The funding will go towards expanding Bitpanda’s product portfolio and accelerating global expansion plans. It will also provide resources to build its in-house engineering and design teams and develop innovative solutions for users. With this investment, Bitpanda is now one of Europe’s leading cryptocurrency brokers & exchanges.
In addition to funding its growth strategy, Bitpanda will use this new capital to drive the development of financial products compliant with European regulations. Doing so will help promote consumer protection and further adoption of digital assets such as cryptocurrencies within the European Union.
This round of financing represents a major milestone for Bitpanda as it continues its pursuit of making cryptocurrencies more accessible for everyone around the world by providing reliable tools and services for trading digital assets at optimal retail prices. It also signals great potential in this rapidly growing industry – something BitPanda intends to serve as a European leader.
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