European crypto exchange BitPanda is now valued at $4.1 billion after raising $263 million during its Series C funding.
BitPanda achieved its unicorn status with a $1.2 billion valuation during its $170 million Series B within the past six months. This was followed by another €10 million Series B extension in May. This latest round, more than tripling that earlier valuation, was led by Peter Thiel’s Valar Ventures. Other investors included Alan Howard and REDO Ventures, along with LeadBlock Partners and Jump Capital also joining the Series C.
The company will use the Series C funding for international expansion and growth. It will also increase headcount and further scale the business. A spokeswoman for BitPanda expressed that international expansion and growth are “key priorities.”She also emphasized, “strengthening Bitpanda’s position in existing markets — such as in the DACH region, Spain, France, Italy, and Poland, and also entering new markets, such as the UK or the markets in Central and Eastern Europe.”
Founding partner of Valar Ventures Andrew McCormack also highlighted BitPanda’s growth in his projection for the company’s potential. In particular, McCormack singled out, “more than 1.2 million users acquired in the first half of 2021, impressive net revenue growth and world-class executive hires.”
BitPanda makes its mark in Europe
Despite competing on a global level with other cryptocurrency exchanges, BitPanda achieved this growth by taking a more discriminating approach. Bitpanda has made its mark by being Europe-focused, with offices and physical tech hubs sprawled across eight European cities. These locations include Barcelona, Berlin, Krakow, London, Madrid, Milan, and Paris, in addition to its headquarters in Vienna.
The crypto exchange has another niche aspect, enabling its roughly three million users to invest in precious metals and stocks. However, this feature is still in beta, and crypto trading remains the preferred choice for Bitpanda’s current users. The exchange also expanded into the B2B market in June, offering a platform that lets other fintech firms and banks enable trading for their own clients.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
