Austria’s first crypto unicorn, Bitpanda has raised $263 million in a new Series C funding round led by Valar Ventures valuing the company at $4.1 billion which is three times more than the $1.2 billion valuations in March this year.
Bitpanda is a European cryptocurrency trading platform founded in 2014 that allows its users to invest in a range of products such as digital assets, fractional stocks, and precious metals – from as little as $1.
According to a report, this is the third time “ Valar has backed Bitpanda since its first major funding round, announced in September.” Valar Ventures is a US-based venture capital firm founded by Peter Thiel.
Eric Demuth, Bitpanda’s CEO and co-founder said:
When you have partners you have a close connection with, and they have deep pockets, you don’t have to do the whole roadshow. Valar wanted to double down and we wanted to stay with them. It was quite an easy process.
British billionaire hedge fund manager Alan Howard and REDO Ventures also invested in Bitpanda’s latest round, along with existing investors LeadBlock Partners and Jump Capital.
Currently, the company has over 3 million active users. It operates in eight European countries and plans to expand its operations in key markets like Spain, France, Italy, and Portugal and also enter new markets, such as the UK or the markets in Central and Eastern Europe.”