Bitpanda secures €44.5 mn in Series A funding led by Valar Ventures

By Megha Bhattacharya

European digital investment platform, Bitpanda today announced that it has closed a Series A funding round by securing around €44.5 million in a round led by Peter Thiel’s Valar Ventures. The new funding will be used to drive the company’s expansion and strengthen its position in the European financial industry.

Eric Demuth, co-founder and CEO of Bitpanda, said, “This investment from Valar Ventures is a major vote of confidence in Bitpanda and our vision from one of the world’s pre-eminent investors in successful fintech companies. Our goal is to become the leading investment and trading platform in Europe, not only for the people who are already familiar with trading but for everyone. This funding will help us do just that and, crucially, continue to recruit some of the world’s leading talent to our team.”

The funding round will aslo see Valar Ventures’ Founding Partner Andrew McCormack join the Bitpanda board. Bitpanda aims to launch new product offerings including a new way of stock trading. It has already expanded to France, Spain and Turkey in 2020 and will enter additional European markets this year and the next.

Andrew McCormack, Founding Partner of Valar Ventures, said, “James and I are delighted to be backing Eric and Paul, as well as the Bitpanda team. Interest in investing has grown massively over the past few years and, with people spending more time at home as a result of the pandemic, this has only accelerated. We believe Bitpanda is perfectly positioned to take advantage of the opportunity by scaling across Europe and continuing to attract loyal users, which the team has already proven they can do profitably. Together, we’re going to ensure everyone in Europe has the power to access the financial markets and invest in their financial futures as we build Europe’s next fintech unicorn.”

Established in 2014, Bitpanda is a platform for trading digital assets and precious metals. Through its desktop site and mobile apps, users have access to 44 investment assets backed by state-of-the-art technology quickly, easily and securely.