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Bitpanda receives USD 52 million in Series A financing round

Paul Klanschek, Eric Demuth und Christian Trummer von Bitpanda (from left) © Bitpanda

This represents Europe's largest Series A financing round this year. Moreover, it is the largest known Series A financing round in Austria's recent startup history. The company Speedinvest headquartered in Vienna also participated in the investments. Bitpanda aims to use the funds to further push ahead with its expansion plans. At present Bitpanda boasts more than 1.2 million users and more than 190 team members. The platform for trading with digital assets, namely cryptocurrencies and other assets as well as precious metals, recently expanded to France, Spain and Turkey. Bitpanda will enter the market in other European countries by the end of this year and in 2021.

Eric Demuth, co-founder and CEO of Bitpanda, stated: "Our products are designed to enable our users to take charge of their own financial future. At the same time, it is very important to promote financial expertise and education. Our declared goal is to become Europe's leading trading and investment platform, and thus not only the first contact point for people who are familiar with the subject, but for everyone". In order to support this growth continued growth, Bitpanda is recruiting 70 new employees. The company also aims to expand geographically. The focus is on Southern and Eastern Europe. Moreover, the company announced that it will introduce additional products. This includes "a completely new and innovative form of stock trading", Demuth said.

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