In a financing round led by star investor Peter Thiel, Krypto-Fintech Bitpanda received the equivalent of 45 million euros in fresh capital.
In a financing round led by star investor Peter Thiels Beteiligungsgesellschaft, the Austrian crypto-startup Bitpanda received 52 million US dollars (45 million euros) in capital. This was announced by Bitpanda in a media release on its website on 29 September.
In addition to Thiels Beteiligungsgesellschaft Valar Ventures, the Austrian venture capital fund VC Speedinvest and other investors are also participating.
Capital for expansion in Europe
Bitpanda intends to use the capital to expand into other European countries Bitcoin Aussie System and, in doing so, to significantly increase its workforce. In Vienna alone, 70 new employees are to be hired before the end of the year. Bitpanda currently employs 130 people there.
Bitpanda is currently expanding its business, which was initially launched in Austria, to France, Spain and Turkey and intends to open up further countries as markets this year and continue its expansion into 2021.
In addition to its core business of crypto services, the company plans to launch a new and innovative equity trading platform next year. However, the focus on crypto currencies is to remain unchanged.
The company sums up where Bitpanda’s journey with Bitpanda will take it in the next few years with the following words
„Bitpanda will become an investment platform for asset classes for everyone. We will provide educational opportunities, enable our users to take control of their own future and remove all those barriers that prevent people from participating. This path will make us the leading investment and trading platform in Europe, driven by a growing team of smart, forward-looking talent.
Products for professionals and the general public
In March of this year, Bitpanda repositioned its crypto business more towards institutional investors with a re-launch of its trading platform and renamed its offering from Bitpanda Global Exchange to Bitpanda Pro. The expansion into other markets with a focus on retail investors illustrates Bitpanda’s ambition to become a comprehensive financial services provider for all asset classes.