Table of Contents
- 1 Bitpanda Lands $4.1 Billion Valuation
- European crypto trading platform Bitpanda has lifted $263 million at a $4.1 billion valuation in a Series C funding spherical.
- The broker has been rewarding for the final 5 many years. The fresh capital will be made use of to boost expansion.
- Peter Thiel’s VC fund Valar Ventures, hedge fund heavyweight Alan Howard, and REDO Ventures are between the record of investors.
Austria’s initial tech unicorn will use the contemporary funds for know-how, intercontinental growth, and expansion.
Bitpanda Lands $4.1 Billion Valuation
Vienna-centered crypto broker Bitpanda has shut a $263 million Sequence C funding round, the organization introduced Tuesday.
Bitpanda is now valued at $4.1 billion, 3 times much more than the $1.2 billion the enterprise was truly worth in its very last private financing round 5 months ago. The spherical was led by Peter Thiel’s Valar Ventures, with the participation of hedge fund billionaire Alan Howard, REDO Ventures, and present investors Soar Cash and LeadBlock Associates. The most current funding increase delivers Bitpanda’s full elevated total to virtually $500 million.
Bitpanda is a single of a couple fintech startups now operating at income. “We are lucrative for five years now, continuously, each yr,” Bitpanda co-founder and CEO Eric Demuth instructed Reuters. What’s much more, the company is on keep track of to achieve 6x buyer development year above calendar year, and enhance revenues by sevenfold this 12 months when compared to 2020.
According to the announcement, Bitpanda will use the fresh cash to boost progress, create and start new products and solutions, and expand to worldwide marketplaces. The enterprise presently has 3 million customers, with 1.2 million of them acquired in the initially 50 % of 2021 by itself.
Commenting on the raise, Eric Demuth said:
“The commencing of the year marked a significant milestone moment for us: Bitpanda obtained unicorn position, turning out to be the initially Austrian firm to surpass the billion-dollar valuation mark. It took us seven decades to go from to… $4.1 billion.”
Bitpanda’s elevate comes amid a rush of huge investments in the cryptocurrency room. Thiel and Howard have both backed a selection of crypto corporations, although Silicon Valley giants like Andreessen Horowitz have also positioned bets to the tune of billions of pounds on crypto’s growth. Past month, the common cryptocurrency exchange FTX raised $900 million, landing an $18 billion valuation. With crypto costs mounting speedy all over this yr, it looks that much more investors than ever are taking an interest in the broader ecosystem.
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