Bitpanda secures €10 million as an extension of its Series B round
By Megha Bhattacharya
Vienna-based investment platform Bitpanda has secured a further €10 million as an extension of its Series B round in a bid to strengthen its institutional offering in Europe ranging from referral solutions all the way to custom build comprehensive tech integrations. This extension brings leading Crypto & FinTech investors Jump Capital and market makers Winterntermute Trading, to Bitpanda, with the participation of LeadBlock Partners to strengthen their institutional offering and position in Europe.
Eric Demuth, Co-founder and CEO of Bitpanda said, “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.”
Recently, Bitpanda has launched a new product called Bitpanda Stocks for offering investments in fractional shares. Customers will be able to invest in their favourite brands from as little as €1, with zero commissions. Existing and new users with a verified Bitpanda account can start investing in fractional shares starting from today.
“We are very excited to partner with the Bitpanda team in their journey to build the leading pan-investment platform in Europe,” said Saurabh Sharma, General Partner at Jump Capital and continued: “Bitpanda is already the leading crypto broker in the region and as they launch some other amazing products over next few months, the platform is very well positioned to become the de facto investment platform for personal finance.”
“Financial institutions have been closely monitoring the digital assets ecosystem for the past years. Today, the combination of better knowledge, a move into Bitcoin by corporates (i.e. MicroStrategy, Square, Tesla) and the acceleration of retail investing into digital assets, has pushed traditional financial players to facilitate access to digital assets for their customers,” said David Chreng-Messembourg, General Partner and Co-Founder of LeadBlock Partners.
The FinTech also became Austria’s newest unicorn after raising $170 million in Series B funding, giving the company a $1.2 billion valuation. The round was led by Valar Ventures, with participation from the partners of DST Global. The company aims to boost its growth and enter new European markets, following the funding round.