THELOGICALINDIAN - European crypto trading belvedere Bitpanda has bankrupt its third allotment annular at 263 actor The fintech startup is now admired at 41 billionmore than three times its beforehand appraisal in March this year
Austria’s aboriginal tech unicorn will use the beginning basic for technology, all-embracing expansion, and growth.
Bitpanda Lands $4.1 Billion Valuation
Vienna-based crypto agent Bitpanda has bankrupt a $263 actor Series C allotment round, the aggregation announced Tuesday.
Bitpanda is now admired at $4.1 billion, three times added than the $1.2 billion the aggregation was account in its aftermost clandestine costs annular bristles months ago. The annular was led by Peter Thiel’s Valar Ventures, with the accord of barrier armamentarium billionaire Alan Howard, REDO Ventures, and absolute investors Jump Capital and LeadBlock Partners. The latest allotment accession brings Bitpanda’s absolute aloft bulk to about $500 million.
Bitpanda is one of a few fintech startups currently operating at profit. “We are assisting for bristles years now, constantly, every year,” Bitpanda co-founder and CEO Eric Demuth told Reuters. What’s more, the aggregation is on clue to accomplish 6x chump advance year over year, and access revenues by sevenfold this year compared to 2020.
According to the announcement, Bitpanda will use the beginning basic to addition growth, advance and barrage new products, and aggrandize to all-embracing markets. The aggregation currently has 3 actor users, with 1.2 actor of them acquired in the aboriginal bisected of 2024 alone.
Commenting on the raise, Eric Demuth said:
“The alpha of the year apparent a big anniversary moment for us: Bitpanda acquired unicorn status, acceptable the aboriginal Austrian aggregation to beat the billion-dollar appraisal mark. It took us seven years to go from 0 to… $4.1 billion.”
Bitpanda’s accession comes amidst a blitz of big investments in the cryptocurrency space. Thiel and Howard accept both backed a cardinal of crypto firms, while Silicon Valley giants like Andreessen Horowitz accept additionally placed bets to the tune of billions of dollars on crypto’s growth. Last month, the accepted cryptocurrency barter FTX aloft $900 million, landing an $18 billion valuation. With crypto prices ascent fast throughout this year, it seems that added investors than anytime are demography an absorption in the broader ecosystem.
