Austria’s Bitpanda raises $263 million at $4.1 billion valuation

Austria’s Bitpanda raises $263 million at $4.1 billion valuation

Digital investment platform Bitpanda has raised $263 million in a Series C round, now giving the company a valuation of $4.1 billion. If you’re keeping track, Bitpanda reached unicorn status just the past March, thereby tripling its valuation in just over four months. The new funding is slated to strengthen the team as well as fuel further international expansion and growth plans.

Starting out life as a crypto-trading platform back in 2014, Bitpanda has evolved into a diverse investment platform. In April of this year the company added commission-free stock trading to the platform, and in June opened the doors on it’s white label B2B offering.

Headquartered in Vienna and with offices in Barcelona, Berlin, Krakow, London, Madrid, Milan, and Paris, Bitpanda comprises a team of over 500. This team also includes four recent executive hires; Lindsay Ross, ex-Adyen and MessageBird, as Chief HR Officer; Irina Scarlat, ex-Revolut, and Uber, as Chief Growth Officer; João Luís, ex- Farfetch, as VP of Engineering; and Michael Keskerides, ex-N26, as VP Product.

The platform counts over 3 million users, and reports that they are on track to achieve a 6x customer growth rate year over year. This growth rate is then in turn responsible for a 7x increase in revenues year over year.

The $263 million Series C round was led by Valar Ventures and saw participation from LeadBlock Partners, Jump Capital, billionaire hedge fund manager Alan Howard and REDO Ventures.

“With more than 1.2 million users acquired in the first half of 2021, impressive net revenue growth and world-class executive hires, Bitpanda stands as the living proof that hypergrowth can be achieved in a sustainable way,” commented Valar Ventures’ Andrew McCormack.

Earlier this year we sat down with Bitpanda on the day the unicorn status was announced. Have a listen as CEO Eric Demuth outlines Bitpanda's past, present, and future.

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.