Bitpanda, an Austrian digital investment platform dealing with cryptocurrency, announced that it has closed it Series B funding round with an investment of 0 million and attained unicorn status with a valuation of .2 billion. The funding round was led by Valar Ventures with participation from partners of DST Global. Bitpanda had also previously secured million during its Series A from Valar Ventures. The Series B was signed last week and is currently in the necessary approval process of the Austrian Financial Market Authority (FMA). Bitpanda said in a blog post that it would be using the new funding to expand its team which currently has 350 staff members to around 600. The company has already expanded into France, Spain, Turkey, Italy and Poland in 2020
Topics:
Fintechnews Switzerland considers the following as important: 6a.) Fintechnews, Austria, Bitpanda, Featured, funding, newsletter
This could be interesting, too:
Jane L. Johnson writes Contrived Scarcity and Antitrust Lawsuits—“It’s Not a Bag, It’s a Birkin”
David Gordon writes What Is Consent?
Lance Roberts writes Trump Presidency – Quick Thoughts On Market Impact
Robert P. Murphy writes How Can Mining Asteroids in the Future Make Us Richer Today?
Bitpanda, an Austrian digital investment platform dealing with cryptocurrency, announced that it has closed it Series B funding round with an investment of $170 million and attained unicorn status with a valuation of $1.2 billion.
The funding round was led by Valar Ventures with participation from partners of DST Global. Bitpanda had also previously secured $52 million during its Series A from Valar Ventures.
The Series B was signed last week and is currently in the necessary approval process of the Austrian Financial Market Authority (FMA).
Bitpanda said in a blog post that it would be using the new funding to expand its team which currently has 350 staff members to around 600.
The company has already expanded into France, Spain, Turkey, Italy and Poland in 2020 and will enter additional European markets throughout 2021 and the years to come.
In December 2020, a tech innovation hub was established in Krakow with the objective of doubling the workforce and there are plans to form tech hubs and offices in Madrid, Barcelona, London, Paris and Berlin.
Bitpanda had previously launched a debit card by Visa that is linked to the assets in its user’s portfolio, enabling them to use Bitcoin or other cryptocurrency holdings to shop online and in stores worldwide.
Eric Demuth
Commenting on the funding, Eric Demuth Co-founder and CEO said,
“Becoming Austria’s first unicorn is a great achievement, and I’m incredibly proud of the team for everything we have accomplished over the past few years. It is yet another endorsement in our vision to give everyone more access and greater control over their financial future, on their terms, no matter their financial means.”
Retail investors will soon be able to access an even larger range of digital assets, and we already have plans in place to bring our offer to several new markets. Our goal is to continue leading the digital investment revolution in Europe and to help people build the confidence and knowledge to be in charge of their financial future. Our partners and this round will enable us to do that, and more.”
You Might Also Like
Weekly SNB Sight Deposits and Speculative Positions: SNB selling euros and dollars
2021-03-15
Update March 15 2021: SNB selling euros and dollars. Sight Deposits have fallen: The change is -0.3 bn. compared to last week, this means the SNB is selling euros and dollars.
Digital Asset Adoption Gains Momentum With US$26 Billion in Bitcoin Transactions
2021-02-19
Bitcoin’s recent price surge has accelerated institutional adoption of cryptocurrencies leading to institutional investor pouring an estimated US$26 billion into bitcoin over the past eight months, an analysis by SNGLR Group shows.
Switzerland and Estonia Among Europe’s Most Advanced Blockchain Ecosystems
2021-02-07
In Europe, Switzerland, Estonia, Malta and Cyprus have the most advanced and mature blockchain ecosystems with well-developed startup scenes and high levels of regulatory maturity, a paper by the EU Blockchain Observatory and Forum says.
Switzerland’s Blockchain Fintech Industry in 2021
2021-02-02
Switzerland is home to 130 startups that are applying blockchain and distributed ledger technology (DLT) to finance use cases, new data from Swisscom show. Most of these companies (48%) operate in the banking infrastructure vertical, followed by investment management (24%), and payments (21%).
CSX Review 2020 – Digital Bank account by Credit Suisse
2020-11-18
CSX is a new digital bank account by Credit Suisse. They have just started this new offer in 2020. And this account is much cheaper than the standard Credit Suisse accounts. The CSX bank account can even be free if used correctly.
Interestingly, even large Swiss banks are jumping on the digital bank account wagon. This is a good trend if that allows people to pay lower fees for their bank accounts.
James Mill: Laissez-Faire’s Lenin
2020-11-16
[An Austrian Perspective on the History of Economic Thought (1995)]
James Mill (1771–1836) was surely one of the most fascinating figures in the history of economic thought. And yet he is among the most neglected. Mill was perhaps one of the first persons in modern times who might be considered a true "cadre man," someone who in the Leninist movement of the next century would have been hailed as a "real Bolshevik." Indeed, he was the Lenin of the radicals, creating and forging philosophical radical theory and the entire philosophical radical movement.
A brilliant and creative but an insistently Number 2 man, Mill began as a Lenin seeking his Marx. In fact, he simultaneously found two "Marxes," Jeremy Bentham and David Ricardo. He met both at about the same time, at the age of 35, Bentham
Covid, November 13: 553 deaths in Switzerland this week as infection rate slows
2020-11-13
Over the 7 days to 13 November 2020, Switzerland’s Federal Office of Public Health (FOPH) reported 553 deaths among laboratory-confirmed Covid-19 cases, bringing the death toll to 1,229 since summer and 2,960 since the beginning of the year.
© Sudok1 | Dreamstime.comThe 553 reported deaths this week represent 19% of the total so far, making the last 7 days the deadliest 7-day period since the virus arrived in Switzerland.
There are currently 3,945 Covid-19 patients in hospitals across Switzerland, according to FOPH figures published by RTS, a number significantly above the peak during the first wave.
Switzerland is currently using 77% of its current intensive care capacity (1,142 places), according to SRF. The number of Covid patients in intensive care has reached 512, a number
Public worker absenteeism costs Geneva 285 million francs a year
2020-11-13
Public worker absenteeism in Geneva costs at least CHF 285 million, according to Heidi.news, which calculated the sum based on information contained in an internal document.
Tags: Austria,Bitpanda,Featured,funding,newsletter