Crypto market firms pour another €10 million into Bitpanda

Cryptocurrency • May 7, 2021, 12:28PM EDT
UPDATED: May 7, 2021, 4:32PM EDT
The Block

Bitpanda, the Vienna-based crypto exchange and neo-broker, has topped up its recent $170 million Series B fundraise with another €10 million (roughly $12 million).

Jump Capital and Wintermute Trading have invested in the company, alongside the venture capital firm LeadBlock Partners. In March, Bitpanda raised $170 million in a Series B raise led by Peter Thiel’s investment firm Valar Ventures. 

In a press release, Bitpanda said the extension would strengthen its institutional offering, allowing it to expand into new markets with new products in 2021.

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“This is all about getting extensive know-how to strengthen Bitpanda’s institutional offering in Europe ranging from referral solutions all the way to custom build comprehensive tech integrations,” said a spokesperson for Bitpanda.

None of the new investors have joined Bitpanda’s board and the company’s co-founders Eric Demuth, Paul Klanschek and Christian Trummer will maintain a majority shareholding.

Launched in 2014 as a crypto-only investment platform, which later added precious metal investments, Bitpanda recently began offering stock trading for the first time. The company has upwards of two million users.

About Author

Ryan Weeks is deals editor at the The Block, focused on fundraising, M&A and institutional trends in the crypto space, among other things. He is particularly interested in investigative work — so please send tips! Ryan previously worked at Financial News, Dow Jones as a fintech correspondent in London. Prior to that, he wrote for several different publications, including Sifted, AltFi and Wired. Beyond journalism, Ryan is a keen reader and writer. He enjoys all things active, especially running, rugby, climbing and tennis.