The exchange sector welcomes another massive influx of funds, as Bitpanda from Europe completes a $263 million financing at a valuation of $4.1 billion
Currently, the exchange has over 500 team members and 3 million users.Author: Richard Lee
Today, cryptocurrency trading platform Bitpanda announced the completion of a $263 million Series C funding round at a valuation of $4.1 billion, further solidifying its position in the European crypto market. This round was led by Valar Ventures, founded by Peter Thiel, with participation from billionaire hedge fund manager Alan Howard, REDO Ventures, and existing investors LeadBlock Partners and Jump Capital.
In March, Bitpanda completed a $170 million Series B funding round at a valuation of $1.2 billion, entering the ranks of crypto market unicorns. This round of funding means that the exchange's valuation has increased 3.4 times in just five months.
Bitpanda, headquartered in Austria and founded in 2014, focuses on the European market and retail user trading, with a minimum investment threshold of 1 euro. Its goal is to rethink the meaning of investment by creating simple and user-friendly financial products for everyone.
The exchange initially offered Bitcoin trading, and has since expanded from the crypto space to provide trading in stocks, precious metals, and exchange-traded funds, supporting over 100 types of assets. Currently, the exchange has more than 500 team members and 3 million users.
Bitpanda is registered as a digital asset service provider with the Austrian Financial Market Authority and the French Financial Market Authority, and also holds an EU PSD2 license.
In March of this year, Bitpanda also issued its platform token BEST, which allows holders to receive up to a 20% discount on fees and benefit from future features and rewards. The total issuance of BEST is 1 billion tokens, currently priced at $1.08.
In June of this year, Bitpanda also expanded into the B2B market, allowing other fintech companies and banks to offer trading to their customers through the platform.
In recent months, as the crypto market continues to improve, cryptocurrency exchanges around the world have secured significant funding, such as Indian exchange CoinDCX raising $90 million, Indonesian exchange Pintu raising $35 million, and Latin American exchange Mercado Bitcoin raising $200 million.
