BitPanda, the cryptocurrency exchange, has recently earned a valuation of more than $1.2 billion during the Series B session of $170 million. Established in 2014, BitPanda is headquartered in Vienna. The Series B session was then extended by €10 million in May 2021. The extended round that tripled the valuation of Series B was headed by Valar Ventures, owned by Peter Thiel. Peter Thiel backed BitPanda for the third time since last September. Several top-tier investors, including REDO Ventures, Alan Howard, Jump Capital, and LeadBlock Partners were also a part of the extended Series B session. These investors are now a part of the Series C of BitPanda.
The exchange forum seeks to employ the funds raised through Series C funding for global growth and expansion. According to a BitPanda review, the exchange forum will be able to scale up the business and increase the headcount through the funding. A BitPanda spokeswoman said that fortifying the position of the exchange forum in the existing markets of Poland, Italy, France, Spain, and the DACH region is the key priority of the platform. The funding through Series C will also help the platform to carve a niche for itself in new markets in the UK, Eastern, and Central Europe.
Despite the cut-throat global competition, BitPanda succeeded in achieving growth and development by operating in key European cities, including Barcelona, Milan, Madrid, London, Krakow, Berlin, Paris, and Vienna. Another reason behind the tremendous international success of BitPanda is that the exchange forum allows trading in cryptocurrencies and enables traders and investors to deal in traditional stocks and precious metals. In June 2021, the exchange forum established its own B2B market to enable banks and FinTech firms to offer trading opportunities to their clients.