Bitpanda, a Vienna-based digital investment platform, announced on Friday it secured an additional €10 million as an extension of its Series B investment round, which was announced last month. The investment round, which intentionally raised $170 million and increased the company’s valuation to $1.2bn as well as giving it unicorn status, was notably led by Valar Ventures, with participation from the partners of DST Global.
Speaking about the company’s future, Eric Demuth, Co-founder and CEO of Bitpanda stated:
“Bitcoin and digital assets have proven that they are here to stay. It has been the best performing asset class of the last decade and now institutional investors want to participate the same way as retail investors. We are ready to meet this demand, and are fully regulated as a company based in the EU with offices and experts around the continent.”
As previously reported, Bitpanda claims to be Europe’s leading retail broker for buying and selling Bitcoin, Ethereum, IOTA and other cryptocurrencies. The platform now has more than one million users.
“At Bitpanda we are firm believers in the innovative power of cryptocurrencies and the blockchain technology. Our mission is to be the key driving force in the ongoing fintech revolution by providing easy-to-use, safe and trustworthy access to any digital assets for both new and experienced users.”
The latest investment was announced just six months after Bitpanda raised $52 million through its Series A round and since that time its number of users have jumped from 1.3 million to more than 2 million users. Last year, the company established a tech hub in Krakow and there are now plans to form tech hubs and offices in Madrid, Barcelona, London, Paris, and Berlin.