In a financing round led by star investor Peter Thiel, the crypto 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 gave Bitpanda on 29 September in a press release on its website known .
In addition to Thiel’s holding company Valar Ventures, the Austrian venture capital fund VC Speedinvest and other donors can also participate.
Capital for expansion in Europe
Bitpanda intends to use the capital to expand into other European countries and also to expand its workforce significantly. At the Vienna site alone, 70 new employees are to be hired before the end of the year and Bitcoin Circuit currently employs 130 people there.
Bitpanda is currently expanding its business, which was initially started in Austria, to France , Spain and Turkey and wants to open up other countries as markets this year and continue its expansion in 2021.
In addition to the core business of crypto services, the company plans to launch a new and innovative share trading platform next year. However, the focus on cryptocurrencies should remain.
The company sums up where the journey with Bitpanda should go in the next few years in the following words:
“Bitpanda will become an asset class investment platform for everyone. We will provide educational opportunities, empower our users to take their future into their own hands, and remove any barriers that keep people from participating. This path will make us the leading investment and trading platform in Europe, driven by a growing team of bright future-oriented talent. “
Products for professionals and the general public
In March of this year , Bitpanda focused its crypto business more on institutional investors as part of a restart of its trading platform and renamed the Bitpanda Global Exchange offering to Bitpanda Pro. The expansion into further markets with a focus on small investors illustrates Bitpanda’s ambitions to become a comprehensive financial services provider for all asset classes.