Bitpanda, a cryptocurrency trading platform with a valuation of $4.1 billion, has raised $263 million in Series C funding.
The investment was led by Valar Ventures, with participation from LeadBlock Partners, Jump Capital, and REDO Ventures.
CEO Eric Demuth claimed in an interview that the funds would be utilized for active expansion, with plans to increase their investments in Europe and penetrate new areas such as Italy, France, and Spain.
Bitpanda will also use the funding to promote its Bitpanda White Label offering. In addition, this solution will enable banking and financial institutions to offer cryptocurrency and other transactional services by leveraging their technology capabilities.
Bitpanda concluded its Series B funding in March of this year, raising $170 million, and as part of the extended funding for Round B, Bitpanda raised an extra 10 million euros.
Bitpanda, based in Vienna, Austria, was formed in 2014 to make investing more accessible to everyone by developing affordable and simple-to-use financial products.
Bitpanda is appealing to both rookie and experienced investors due to the PSD2 service provider license, security, and an optimized user interface. You can trade stocks, metals, cryptocurrencies, and other items, as well as invest in them. Bitpanda, which has 3 million users and has been around for seven years, is one of Europe’s fastest-growing fintech startups.