The Vienna based fintech Bitpanda raises further €10M as an extension of its Series B round and bringing in extensive know-how to strengthen its institutional offering in Europe ranging from referral solutions all the way to custom build comprehensive tech integrations. Services will be integrated into apps and allows users to invest in all assets – whether it’s a fintech, multi-bank, robo advisor, traditional bank or online platform.
Institutional demand for cryptocurrencies is on the rise, as the capital inflow and demand for investment products is getting more and more traction. The first quarter of 2021 saw a roughly $4.5 billion of institutional capital inflow, compared to $3.9 billion in the same timeframe last year.
This extension brings leading Crypto & Fintech investors Jump Capital and market makers Winterntermute Trading, to Bitpanda, with participation of LeadBlock Partners to strengthen their institutional offering and position in Europe.
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Eric Demuth, Co-founder and CEO of Bitpanda said: “Bitcoin and digital assets have proven that they are here to stay. It has been the best performing asset class of the last decade and now institutional investors want to participate the same way as retail investors. We are ready to meet this demand, and are fully regulated as a company based in the EU with offices and experts around the continent.”
“We are very excited to partner with the Bitpanda team in their journey to build the leading pan-investment platform in Europe,” said Saurabh Sharma, General Partner at Jump Capital and continued: “Bitpanda is already the leading crypto broker in the region and as they launch some other amazing products over next few months, the platform is very well positioned to become the de facto investment platform for personal finance.”
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“Financial institutions have been closely monitoring the digital assets ecosystem for the past years. Today, the combination of better knowledge, a move into Bitcoin by corporates (i.e. MicroStrategy, Square, Tesla) and the acceleration of retail investing into digital assets, has pushed traditional financial players to facilitate access to digital assets for their customers,” said David Chreng-Messembourg, General Partner and Co-Founder of LeadBlock Partners.
Bitpanda’s strategic incorporation to meet this surging demand comes after a $170M Series B round in March led by Valar Ventures and DST Global — raising the company’s valuation to $1.2bn and giving it unicorn status.
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