Crypto Retail Broker Bitpanda Raises Another $12 Million in Series B Expansion Round

Bitpanda said the Series B expansion round will strengthen its institutional offering, allowing the company to expand into more markets with the new product in 2021.

Vienna-based crypto retail broker Bitpanda raised another €10 million (about $12 million) in its recent $170 million Series B funding round, with Jump Capital, Wintermute Trading, and venture capital firm LeadBlock, according to The Block on May 8. Partners participated. In March, Bitpanda raised $170 million in a Series B funding round led by Peter Thiel’s investment firm Valar Ventures.

Crypto Retail Broker Bitpanda Raises Another  Million in Series B Expansion Round

In a press release, Bitpanda said the Series B expansion financing will strengthen its institutional offerings, allowing the company to expand into additional markets with new products in 2021.

A Bitpanda spokesperson stated.

This financing helps Bitpanda gain extensive technical knowledge to enhance Bitpanda’s product range in European institutions, such as referral solutions to custom comprehensive technology integrations.
The new investors will not join Bitpanda’s board of directors. Company co-founders Eric Demuth, Paul Klanschek and Christian Trummer will maintain a majority stake.

When it launched in 2014, Bitpanda only accepted investments in cryptocurrencies, and later added investments in precious metals. More recently, Bitpanda began offering stock trading. The company has over 2 million users.

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