Crypto exchange Bitpanda raised $50m in a funding round led by Peter Thiel

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The Vienna based crypto exchange Bitpanda made the headlines this month with the latest funding-round led by prominent VC and entrepreneur Peter Thiel Valar Ventures. Austrian investor- Speedinvest– is a co-investor in the deal and has been a backer of the crypto startup from early on.

The fated year 2020 is catastrophic for many, but perhaps not for digital finance platforms and Fintech apps. Accordingly to a report by Apptopia, Finance investment apps are the second-fastest-growing vertical globally in 2020, with Apptopia’s data also showing massive growth across the board.

Bitpanda allows users to buy and sell cryptocurrencies, such as Bitcoin and Ethereum, as well as precious metals such as gold, silver, platinum.

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The crypto firm will use the new capital to hire more staff and expand into foreign markets. Bitpanda plans to add 70 new employees, bringing the total number of employees to 300 by the end of this year.

Other prominent VCs that invested in crypto deals in 2020 include Digital Currency Group, A16z, which are also among the top active VCs in 2020, according to Ftpartners.

Crypto exchange Bitpanda is a licensed EU payment service provider. There have been growing numbers of crypto exchanges that look to raise extra capital to afford compliance costs and expand in international markets. With Bitcoin becoming more maintain stream thanks to the participation of large financial service providers such as Square, Paypal, Infidelity, more and more traditional investors look to join the market. In Germany, Börse Stuttgart also developed their own crypto exchange Bison app to cater to the growing demand of the market.

Bitpanda was founded in Vienna in 2014. The company said it has more than 1.3 million users and is profitable. Bitpanda is one of the Euro’s leading crypto exchanges for retail investors that invests in Bitcoin, Ethereum, and other digital assets. Apart from these traditional crypto assets, Bitpanda has also recently added the much-hyped Defi tokens, such as Kyber Network KNC, Band Protocol BAND, AAVE, Filecoin FIL, Uniswap UNI.

Click here to buy Bitcoin with Bitpanda

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