- The seven-year-old company is one of Europe’s fastest growing financial technology companies and was the first Austrian-based company to pass the billion-dollar valuation mark, the company said
- In August, multiple other cryptocurrency exchange platforms reached unicorn status — and it’s not even the end of the month.
Bitpanda has its “hypergrowth mode on” as it announced its new valuation of $4.1 billion and funding of $263 million in a Series C round, just five months after its last valuation and raise, the company’s co-founder and co-CEO Eric Demuth said in a post Tuesday.
The new valuation raises the company about 242% from its previous valuation of $1.2 billion in March, when the crypto exchange company first marked its unicorn status after raising $170 million in a Series B round.
The Series C investment round was led by Valar Ventures, with the participation of billionaire hedge fund manager Alan Howard and REDO Ventures, as well as existing investors LeadBlock Partners and Jump Capital, Demuth said. The funding will be used to build the team, open new offices and launch new markets and products as the company continues to scale, he said.
The seven-year-old company founded by Demuth, Paul Klanschek and Christian Trummer, is one of Europe’s fastest growing financial technology companies and was the first Austrian-based company to pass the billion-dollar valuation mark, the company said.
It began as a crypto-trading company and has grown into an investment platform of 3 million users where investors can trade stocks, cryptocurrencies and precious metals with any amount of money, Demuth said.
Although Bitpanda hit unicorn status in March, this new valuation enhances its place on a list of over 900 private companies with valuations of $1 billion or more, according to data on the Crunchbase Unicorn Board.
In August, multiple other cryptocurrency exchange platforms reached unicorn status — and it’s not even the end of the month.
Last week, Cryptocurrency exchange platform CoinDCX, scored $90 million in Series C funding, making it India’s first crypto-related unicorn, while FalconX raised $210 million in Series C funding to expand into Asia, Blockworks previously reported.
Earlier this month, Singapore-based crypto financial service platform Matrixport announced it closed its $100 million Series C funding round also with a valuation over $1 billion.
In late July, the first non-fungible token (NFT) marketplace OpenSea also reached unicorn status after raising $100 million in a Series B funding round led by a16z, which brought its valuation to $1.5 billion, Blockworks reported. These crypto-companies are some of the latest organizations to join the growing list of unicorns in the global marketplace.