Crypto Exchange Bitpanda Raises $52 Million in Series A Round to Offer Access to Stock Markets

Peter Thiel’s Valar Ventures led the round for Bitpanda’s first major funding round that claims 1.3 million users.

Cryptocurrency exchange Bitpanda has raised $52 million in its first major funding round, Series A led by PayPal co-founder Peter Thiel’s Valar Ventures. Other backers included Austrian Speedinvest and other unmanned investors.

As part of the investment, Valar Ventures’ founding partner Andrew McCormack will also join the board of the centralized exchange.

Founded in 2014, the Vienna-based company boasts of 1.3 million users and 300 employees. It is focused on trading digital assets along with tokenizing precious metals. This year, the exchange expanded to France, Spain, and Turkey and further plans to enter other European markets as well.

The new funding round will be used for this expansion to offer users access to stock markets next year and recruit 70 new employees.

With this move, the digital investment platform is expanding into real-world assets joining the likes of eToro, Robinhood, and Revolut, which came from the traditional assets’ world and now entering the world of crypto assets.

Interestingly, 2020 has been a good year for trading assets, with retail investors pouring money into apps like Robinhood thanks to the government stimulus program to counter pandemic.

“The Robinhood movement in the U.S. helps a lot, but we want to be more customer-friendly,” said Eric Demuth, co-founder, and co-chief executive officer of Bitpanda.

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AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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