Technology

Austria’s first unicorn is worth $ 4.1 billion after raising $ 263 million and plans to expand its UK card

Austria’s first unicorn, Austria’s digital investment platform, Bitpanda, has earned $ 263 million in Series C. Financing, This is valued at $ 4.1 billion. The round took place just a few months after the company achieved it. Unicorn status.. It was led by Valar Ventures and joined by Alan Howard and REDO Ventures, as well as existing investors Lead Block Partners and Jump Capital.

UK expansion plan

Headquartered in Vienna, Bitpanda currently represents more than 50 national and physical technology hubs and offices in eight European cities, including Vienna, Barcelona, ​​Berlin, Krakow, London, Madrid, Milan and Paris. We have a diverse team of over 500 people. Recently, the company announced the opening of a remote-first blockchain R & D hub focused on bringing together talents from all over Europe to build cutting-edge technologies that leverage blockchain for the future. We are planning to open a new office in Europe.

Eric Demuth, Co-Founder and CEO of Bipanda, said: International expansion and growth are our key priorities. We continue to build teams, open new offices and launch new products, designing for scale and optimizing for growth. This also means strengthening Bitpanda’s position in existing markets such as the DACH region, Spain, France, Italy and Poland, and entering new markets such as the UK, Central and Eastern European markets. .. “

Appoint key executives

Bitpanda will use this money to strengthen its team and design its organization to scale while doubling cutting-edge technology, international expansion and growth. In addition, four key executive hires have joined the team to shape Bitpanda’s future growth trajectory. The new appointments are former Adyen Lindsay Ross and Chief Human Resources Officer Message Bird. Irina Scarlat, former Revolut and Uber, Chief Growth Officer. João Luís, Former Farfetch, Vice President of Engineering. Michael Keskerides as a VP product, formerly N26.

Eric goes on to say: “We are grateful to share our journey with these wonderful people, so an important area we focus on is strengthening our team by bringing in world-class talent. We will continue to thank investors, old and new, for their trust in this investment round. Shape the future of finance and make Bitpanda the number one investment platform in Europe and beyond. We look forward to working together to grow. “

Andrew McCormack, founding partner of Valar Ventures, said: “I believed in the potential of Bitpanda from the beginning. I was impressed with the results achieved by Eric, Paul, Christian and the Bitpanda team. With revenue growth and the hiring of world-class executives, Bitpanda stands as a living proof that super-growth can be achieved in a sustainable way, to create a world where everyone can invest quickly, wherever they are. I am happy to be able to cooperate further. “

David Chreng-Messembourg, General Partner and Co-Founder of LeadBlock Partners, said: Bitpanda is certainly one of them. Working closely with the team of Eric, Paul, Christian and Bitpanda, I’ve been constantly impressed with the ability to innovate, attract the best talent and carry out their vision. We look forward to continuing this exciting journey with them. “

About growth trajectory

Founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer, Bitpanda started as a crypto trading company. It has grown into an investment platform that gives everyone the freedom and flexibility to invest, whether it’s fee-free fractional stocks, cryptocurrencies, or precious metals from just $ 1.

With 3 million users, Bitpanda is one of Europe’s fastest growing fintech companies. The company is on track to achieve 6x year-over-year customer growth, but 2021 revenue will increase 7x year-over-year.

Since becoming a unicorn, Bitpanda has made great strides in becoming a major investment platform. In April, the company announced that it would expand its product offering with fee-free stock that users can invest 24 hours a day, 7 days a week. In June, Bitpanda While Label leveraged the potential of the B2B market to open up infrastructure to fintechs and banks that want to offer transactions to their clients.



https://www.uktech.news/news/bitpanda-funding-uk-expansion-plans-20210817 Austria’s first unicorn is worth $ 4.1 billion after raising $ 263 million and plans to expand its UK card

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