Bitpanda, a Vienna, Austria-based crypto exchange company, closed a $52m Series A funding round.
The round was led by Valar Ventures with participation from Speedinvest and others. In conjunction with the funding, Andrew McCormack and James Fitzgerald from Valar Ventures, joined BitPanda’s board.
The company will use the funds to grow its team, build out a pan-European offering (with the expansion already started in France, Spain and Turkey) and become a stock trading platform.
Founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer, BitPanda is a retail broker for buying and selling Bitcoin, Ethereum, gold and over 30 other digital assets. It has 1.2 million users and more than 190 team members. The company, which has a PSD2 payment service provider licence, plans to launch new products, including a completely new and innovative way of stock trading early next year, and become an investment platform for asset classes for everyone.