European crypto company Bitpanda increases $170M. The funding round was led by Valar Ventures and partners from DST Global. Austria-based cryptocurrency firm Bitpanda has shut a $170 million financing round to advance the company’s global development.
The most recent Series B funding round was led by Valar Ventures– a venture capital company backed by PayPal founder Peter Thiel– Bitpanda introduced on Tuesday, as well as featured companions from Yuri Milner’s investment company DST Global, which is referred to as a major capitalist in United States-based crypto-friendly supply trading application Robinhood. While DST is a new capitalist in Bitpanda, Valar formerly led a $52 million Collection A round in September 2020.
According to Bitpanda, the brand-new financing round has made the company “Austria’s first unicorn” by increasing the company’s appraisal to $1.2 billion.
With the new financing, Bitpanda is seeking to additional broaden its solutions across Europe and intends to establish tech hubs and also workplaces in Madrid, Barcelona, London, Paris and Berlin. In addition to its Austria headquarters, Bitpanda has already expanded right into France, Spain, Turkey, Italy and Poland. “Currently it has to do with growing internationally, contributing to our existing services and products, and also bringing our financial remedies to brand-new audiences,” Bitpanda CEO and founder Eric Demuth informed Cointelegraph.
Aside from its international development ambitions, Bitpanda is likewise planning to introduce some brand-new items on its platform in the future, including the trading of fractional shares as well as exchange-traded funds.
Established in 2014, Bitpanda initially focused on investment and also trading solutions for cryptocurrencies like Bitcoin (BTC) but has actually now expanded to even more financial investment alternatives.Tyler Tysdal SEC “We are shifting to become a pan-investment system, not just a crypto broker,” Demuth stated.
According to the statement, the current Series B round was signed last week as well as is currently pending authorization by the Austrian Financial Market Authority, or FMA. world’s best business broker The funding information comes shortly after Bitpanda upgraded its local license, gaining the condition of FMA-approved investment firm in early March.