Bitpanda has closed a $52 million Series A financing round, led by Peter Thiel’s Valar Ventures and other fintech investors
Bitpanda has closed a $52 million Series A financing round, led by Peter Thiel’s Valar Ventures and other Fintech investors such as SpeedInvest. This was reported to Cointelegraph en Español in a press release.
The digital investment platform Bitpanda, announced that it has closed a round of Series A financing in Europe, by obtaining $52 million from Valar Ventures. They explained that this funding will be used to drive Bitpanda’s expansion and position the Vienna-based company in the transformation of Europe’s financial industry.
Bitpanda expands operations to Turkey
Eric Demuth, co-founder and CEO of Bitpanda, has shown his satisfaction with having Valar Ventures among his shareholders:
„This investment by Valar Ventures is an important vote of confidence for Bitpanda and its vision from one of the world’s leading technology investors. Thanks to our technology (…) and our ability to build new and innovative financial tools, we are democratizing investment and giving everyone access to the financial markets, regardless of their economic situation“.
Then he said:
„We enable everyone to take charge of their financial future and at the same time provide our clients with financial knowledge and education. Our goal is to become Europe’s leading trading and investment platform for both professional investors and those who want to get started in this world. This funding is an important step towards achieving this goal and continuing to recruit some of the world’s leading talent to our team.
So far in 2020, Bitcoin Supersplit has landed in France, Spain and Turkey and hopes to enter other European markets soon. The company also plans to launch new products, including a form of stock trading, which will be available early next year.
„To support this continued growth, the company is in the process of recruiting 70 new members. By the end of 2020, the Bitpanda team will consist of 300 employees which will continue to grow in 2021,“ they said.
„As part of the investment, Valar Ventures founding partner Andrew McCormack will join Bitpanda’s board. Andrew has a long history with digital champions. He was part of PayPal in its early years and supported Peter Thiel during its IPO and sale to eBay in 2002. Valar has overseen investments in multiple European unicorn fintechs, such as Transferwise and the German-based N26 digital bank,“ they added later in the release.
Andrew McCormack, founding partner of Valar Ventures, said:
James and I are delighted to support Eric and Paul, as well as the Bitpanda team. Interest in investing has grown enormously in recent years and, with people spending more time at home as a result of the pandemic, this interest has only increased. We believe that Bitpanda is perfectly positioned to take advantage of the opportunity to expand across Europe and continue to attract loyal users, something the team has already proven it can do profitably. Together, we will ensure that everyone in Europe has the power to access the financial markets and invest in their financial future as we build Europe’s next fintech unicorn“.