Vienna’s fintech unicorn Bitpanda raises €223M in Series C funding

Bitpanda will use the funding to enhance its staff and build the organization for size, as well as to double down on cutting-edge technology

Main Highlights

Bitpanda, a digital investing platform, just secured an extra €223 million in fundraising — at an astounding €3.48 billion value. The profits will be used to enhance its staff and build the organization for size, as well as to double down on cutting-edge technology, worldwide expansion, and growth.

The Series C investment signed just four months after achieving unicorn status, is headed by Valar Ventures, with participation from Alan Howard and REDO Ventures, as well as existing backers LeadBlock Partners and Jump Capital. The Series C was signed earlier this month and, as always, is subject to approval by the Austrian Financial Market Authority (FMA).

Bitpanda began as a crypto-trading firm in Austria in 2014, founded by Eric Demuth, Paul Klanschek, and Christian Trummer. Since then, it has evolved into a well-rounded investment platform that allows anybody to invest in what they believe in – commission-free fractional stocks, cryptocurrencies, or precious metals – starting with as little as $1.

It is one of Europe’s fastest-growing fintech, with 3 million users. The firm is on target to reach 6x year over year client growth, while revenues will climb sevenfold in 2021 compared to the previous year.

Bitpanda’s Progress

Bitpanda has made considerable progress toward becoming a major investment platform after concluding its Series B fundraising round. The company started in April that it is extending its product offering with commission-free equities that customers may invest in 24 hours a day, seven days a week. With Bitpanda While Label, it delved into the possibilities of the B2B sector in June, providing its infrastructure to fintech or banks who wish to provide trading to their clients.

Bitpanda, headquartered in Vienna, currently boasts a varied workforce of 500+ individuals representing more than 50 nationalities, as well as real tech centers and offices in 8 European cities, including Vienna, Barcelona, Berlin, Krakow, London, Madrid, Milan, and Paris.

The business recently announced the inauguration of its remote-first Blockchain Research & Development center, which will bring together talent from around Europe to create cutting-edge solutions that will utilize blockchain in the future, as well as plans to expand more offices throughout Europe.

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Bitpanda’s CEO and co-founder Eric Demuth said in an interview, “We founded Bitpanda in 2014 with a simple vision: to bring investment closer to everyone, everywhere,” he said of the current fundraising round. “We wouldn’t be here today if it weren’t for the efforts of our brilliant team members, who are continuously “rolling up their sleeves” to make things happen.”

“We are happy to be able to share our journey with these amazing people, which is why one of our top priorities is to continue growing our team by bringing on world-class talent. We’re also appreciative of the trust placed in us by our investors, both old and new, in this round of funding. We are excited to collaborate as we build the future of finance and expand Bitpanda into the number one investment platform in Europe and beyond.”

“We believed in Bitpanda’s promise from the start, and we are impressed by the achievements that Eric, Paul, Christian, and the Bitpanda team have achieved,” said Andrew McCormack, Founding Partner of Valar Ventures. Bitpanda is real proof that hypergrowth can be done in a sustainable manner, with over 1.2 million users added in the first half of 2021, strong net revenue growth, and world-class leadership appointments. We are pleased to continue our collaboration in order to bring the world of investment at the fingertips of everyone, anywhere.”

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