Bitpanda raises $52M for the company’s expansion driving

Vienna-based fintech Bitpanda has closed a $52 million Series A funding round, the largest Europe’s Series A round of 2020, led by Valar Ventures. Vienna-based VC Speedinvest also participated, the company says in its blog. 

Bitpanda was co-founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer. It has since grown into a popular trading platform for Bitcoin, Ethereum, gold and over 30 other digital assets with more than 1.2 million users and 190 team members. As the company declares, it is aimed to provide easy-to-use, safe and trustworthy access to any digital assets for both new and experienced users.

Leading investor Valar Ventures is the US venture capital firm backed by Peter Thiel. The fund has previously invested in European fintechs turned unicorns including TransferWise and the Germany-based digital bank, N26. As part of the investment, Andrew McCormack and James Fitzgerald from Valar Ventures will join Bitpanda’s board.

“Our focus is currently on expansion, as we have made our way to countries like France, Spain and Turkey since the beginning of this year. We plan to keep on growing in more European countries during this year and, in 2021, bring financial empowerment across borders and secure a new sense of financial culture,” Eric Demuth told about the Bitpanda’s plans.