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Bitpanda Multiplies Its Value By Four, Upto 3,500 Million

Bitpanda , the digital investment platform specialized in crypto assets, has closed an investment round of 263 million dollars (223 million euros), thus multiplying its valuation by four, to 4,100 million dollars (3,500 million euros).

Based in Austria, and present in Spain since last year , the fintech will use these funds to strengthen its team and accelerate its growth and international expansion, as well as to enhance its technological platform.

The new injection of capital (series C has) comes just four months after the company became a new unicorn , exceeding 1 billion dollars. Firms such as LeadBlock Partners and Jump Capital have participated in the operation, which has again been led by Valar Ventures. In addition, Bitpanda has secured new investors, such as Alan Howard and Redo Ventures.

According to the head of fintech in Spain, Alejandro Zala, part of these funds will be used to carry out signings and increase the workforce from the current 500 workers to the 800 they want to have at the end of this year. An office has just opened in Madrid and is in the process of setting up a technology hub in Barcelona.

In recent months, the firm has seen exponential growth in the heat of the cryptocurrency market fever . But, Bitpanda’s goal is to expand its product base through the commercialization of all kinds of assets that can be tokenized. In this strategy, he recently launched the fractional sale of shares and ETFs .

Zala highlights that in just one year the group has attracted 1.5 million customers, thus doubling the number of users to 3 million, and that the forecast is that the collection will rise even more. The goal is to multiply customers by six in all of 2021 and to increase revenue sevenfold.

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