Crypto Exchange Bitpanda Raises $263M at $4.1B Valuation

Crowned Austria’s first tech unicorn in March, the firm is now worth even more.

By Tanzeel Akhtar

Aug 17, 2021 at 8:00 a.m. UTC

Updated Sep 14, 2021 at 1:40 p.m. UTC

Bitpanda co-founders (left to right) Christian Trummer, Paul Klanschek and Eric Demuth.

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Bitpanda, one of Europe’s fastest-growing fintechs, closed a $263 million Series C funding round, the company said Tuesday.

The round, which was led by PayPal founder Peter Thiel's Valar Ventures, values the company at $4.1 billion. It comes just months after a $170 million Series B funding round in March that valued the firm at $1.2 billion and made Bitpanda Austria's first-ever tech unicorn, which means a startup that's worth at least $1 billion.
The Vienna-based investment platform said it will use the fresh capital to double down on technology, international expansion and growth.
Billionaire hedge fund manager Alan Howard, REDO Ventures and existing investors LeadBlock Partners and Jump Capital also participated in the round.
Founded as a bitcoin exchange in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer, Bitpanda has since expanded beyond crypto to offer the trading of stocks, precious metals and exchange-traded funds.

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