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Finance

Crypto Exchange Bitpanda Raises $263M at $4.1B Valuation

Crowned Austria’s first tech unicorn in March, the firm is now worth even more.

By Tanzeel Akhtar
AccessTimeIconAug 17, 2021 at 8:00 a.m. UTC
Updated May 9, 2023 at 3:22 a.m. UTC
Bitpanda co-founders (left to right) Christian Trummer, Paul Klanschek and Eric Demuth.
Bitpanda co-founders (left to right) Christian Trummer, Paul Klanschek and Eric Demuth.

Bitpanda, one of Europe’s fastest-growing fintechs, closed a $263 million Series C funding round, the company said Tuesday.

  • The round, which was led by PayPal founder Peter Thiel's Valar Ventures, values the company at $4.1 billion. It comes just months after a $170 million Series B funding round in March that valued the firm at $1.2 billion and made Bitpanda Austria's first-ever tech unicorn, which means a startup that's worth at least $1 billion.
  • The Vienna-based investment platform said it will use the fresh capital to double down on technology, international expansion and growth. 
  • Billionaire hedge fund manager Alan Howard, REDO Ventures and existing investors LeadBlock Partners and Jump Capital also participated in the round.
  • Founded as a bitcoin exchange in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer, Bitpanda has since expanded beyond crypto to offer the trading of stocks, precious metals and exchange-traded funds.
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