Austrian FinTech Bitpanda hits $4.1bn valuation

Digital investment platform Bitpanda has raised $263 million at a $4.1 billion valuation.

The FinTech said it will use the funding to strengthen its team and focus on its technology, international expansion, and growth.

The Series C investment round was led by Valar Ventures, with participation from LeadBlock Partners, Jump Capital, Alan Howard, and REDO Ventures.

BitPanda was founded Austria in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer, as a crypto-trading company.

The FinTech now offers an investment platform that allows customers to invest in fractional stocks, cryptocurrencies, and precious metals

Bitpanda said it has a team of over 500 people and 3 million users as well as “tech hubs” and offices in Vienna, Barcelona, Berlin, Krakow, London, Madrid, Milan, and Paris.

The FinTech claims it is on track to increase its customer base sixfold year-on-year and for its revenues to increase sevenfold year-on-year.

“In this increasingly competitive market, many businesses are growing, some are profitable, but very few achieve hypergrowth in a sustainable way, and become market leaders,” said David Chreng-Messembourg general partner and co-founder at LeadBlock Partners. “Bitpanda is certainly one of them.”

“Having collaborated closely with Eric, Paul, Christian and the Bitpanda team, I was continuously impressed by their ability to innovate, to attract the best talents, and to execute on their vision.”

He added: “We look forward to continuing this exciting journey with them.”

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