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Crypto market makers pour another €10 million into Bitpanda

www.theblockcrypto.com 07 May 2021 17:01, UTC
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Bitpanda, the Vienna-based crypto exchange and neo-broker, has topped up its recent $170 million Series B fundraise with another €10 million (roughly $12 million).

The money comes from leading crypto market makers and investors. Jump Capital and Wintermute Trading have both invested in the company, alongside the venture capital firm LeadBlock Partners. In March, Bitpanda raised $170 million in a Series B raise led by Peter Thiel’s investment firm Valar Ventures.

In a press release, Bitpanda said the extension would strengthen its institutional offering, allowing it to expand into new markets with new products in 2021.

“This is all about getting extensive know-how to strengthen Bitpanda’s institutional offering in Europe ranging from referral solutions all the way to custom build comprehensive tech integrations,” said a spokesperson for Bitpanda.

None of the new investors have joined Bitpanda’s board and the company’s co-founders Eric Demuth, Paul Klanschek and Christian Trummer will maintain a majority shareholding.

Launched in 2014 as a crypto-only investment platform, which later added precious metal investments, Bitpanda recently began offering stock trading for the first time. The company has upwards of two million users.

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