In Brief:
- Bitpanda has raised $263 million in a new round of fundraising, valued at $4.1 billion.
- It’s more than three times the $1.2 billion valuation five months ago in its last private financing round.
- Valar Ventures, the venture capital fund co-founded by US internet tycoon Peter Thiel, is backing Bitpanda.
Bitpanda, an Austrian cryptocurrency broker, announced that it has raised $263 million in a funding round headed by Valar Ventures. Billionaire Peter Thiel founded The venture capital firm Bitpanda for a valuation of $4.1 billion.
The current round is 3 times the broker’s last value. Earlier, in March it was $170 million at a $1.2 billion valuation.
Valar has supported Bitpanda three times since its first significant fundraising round, which was revealed in September.
Eric Demuth, Bitpanda’s CEO, and co-founder told CNBC, “I don’t want to undertake fundraising.” “It takes a long time.” “You don’t have to perform the whole roadshow if you have partners who have large pockets,” Demuth added.
Along with LeadBlock Partners and Jump Capital, British billionaire hedge fund manager Alan Howard and REDO Ventures joined Bitpanda’s latest round.
Also Read: Figment Raises $50 Million in the Series B Funding Round
Bitpanda is a Vienna-based brokerage service that allows consumers to purchase and trade cryptocurrencies and precious metals. It was founded in 2014. This year, the company began testing a program that allows customers to trade stocks 24*7. Due to the “meme stock” trading frenzy, Bitpanda is one of many online brokers in Europe drawing increasing interest from investors. Revolut, Trade Republic, and eToro are among Bitpanda’s competitors.
