Austrian cryptocurrency investment platform Bitpanda announced the completion of the Series C funding round, during which it raised $ 263 million. The company’s capitalization reached $ 4.1 billion.
The Series C funding round was led by venture capital firm Valar Ventures led by Peter Thiel. Alan Howard’s fund and REDO Ventures also contributed funds, while LeadBlock Partners and Jump Capital increased their investments in Bitpanda.
As a reminder, in September 2020, the company received $ 52 million. Five months ago, Bitpanda completed its Series B funding round, in which it raised $ 170 million. Yesterday, August 17, Bitpanda reported on Twitter, which raised $ 263 million, and the company’s capitalization reached $ 4.1 billion.
Bitpanda co-founder and CEO Eric Demuth emphasized that the company is profitable and does not need additional funding. The funds received during the investment round will be used to develop the platform and brand advertising to attract customers and talented employees.
“We would not have reached where we are today without our talented team constantly rolling up their sleeves. We are very pleased to share the success with our team, and even more so to strengthen it with new employees, world-class specialists, “- said Demuth.
Note that in the first half of 2021, venture capital companies significantly increased their investments in the cryptocurrency industry. In the first six months of 2021, investments were twice as high as in all previous years.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
