Bitcoin broker from Austria raises USD 52 million in growth money

Bitcoin broker Bitpanda has raised USD 52 million in fresh growth money. The round was led by Valar Ventures, the investment fund of Peter Thiel, co-founder of PayPal.

The European Speedinvest, which invests growth money from the European Union in dozens of start-ups, also participates in Bitpanda.

Bitcoin broker Bitpanda

The company from Vienna has now raised roughly USD 100 million. In 2016, there will be the first investment round and in 2019, there will be an initial exchange offering.

What will happen with the money? Co-CEOs Eric Demuth and Paul Klanschek want to scale up the company to 300 employees and expand the product range.

According to Coingecko, the Bitpanda Pro, the exchange branch, has a daily trading volume of around 2 million dollars. They also offer trading in precious metals.

According to Crypto Method scam, this branch will account for USD 1 billion in volume by 2019. According to Coingecko, 100,000 investors once traded gold options there.

Especially in France, Spain and Turkey they know where to find the exchange. Dutch investors can also make use of it. According to Demuth, the recent decentralised finance (De-fi) is creating new inflows.

Broad platform

In 2021, Bitpanda wants to trade ‚all possible assets‘, including shares and bonds, for example. Andrew McCormack of Valar will sit on Bitpanda’s advisory board.

With this investment, we want to create the next unicoin in the European fintec industry‘.

Tech companies are known to take a while to make a profit.