Bitpanda valued at $4.1bn after $263m Series C raise
Digital investment platform Bitpanda has raised $263 million in a Series C funding round led by Peter Thiel’s Valar Ventures.
The round also included participation from hedge fund manager Alan Howard and REDO Ventures along with existing investors LeadBlock Partners and Jump Capital.
The Vienna-based firm claims the funding takes its valuation up to $4.1 billion, more than tripling its previous valuation of $1.2 billion achieved in March this year following a $170 million Series B round.
It has now raised around $546 million in total funding since its inception in 2014.
Bitpanda’s platform allows users to invest in fractional stocks, cryptocurrencies and precious metals.
It currently boasts 3 million users and claims to be on track to achieve a 7x increase in revenues in 2021 as compared with last year.
The fintech entered the B2B market in June with its White Label offering, allowing fintechs and banks to tap into its infrastructure to offer trading services to customers.
Bitpanda says it will use the new funds to invest in new talent and technology as it looks to scale and further its international expansion.
The Series C is the latest in a string of funding rounds for digital asset platforms following a $210m Series C for FalconX and a $900 million Series B for FTX Trading in recent months.