Digital investment platform Bitpanda has raised an undisclosed amount
of funding in a capital raise led by Speedinvest. This will fuel the
startup’s international expansion plans as they increase the number of
digital and tokenized assets available.
Eric Demuth, Co-CEO and Founder of Bitpanda, said: “Our goal for the
next several years is to transform Bitpanda from a European company
into a global one. A company that focuses on democratizing investing
and giving everyone in the world access to the financial market. This
partnership with Speedinvest is new ground for us since we have been
operating profitably and independently for more than five years. But
now, it’s about scaling and growing internationally, while adding more
and more asset classes, and bringing our financial solutions to new
audiences.”
Bitpanda offers a range of 33 digital assets, including precious
metals such as gold and platinum, with real-time settlement. Currently
available in 32 European countries with more than 1.2 million users,
the platform is now set to launch in France, Spain, and Turkey, and
several additional countries later this year. Founded in 2014,
Bitpanda is growing rapidly, having doubled its team to more than 180
employees over the last 12 months. In March alone, Bitpanda recorded
€200 million in trade volume and €3 million in net revenue. The trade
volume has grown by 200% year-over-year.
Stefan Klestil, Head of Fintech at Speedinvest, commented: “Bitpanda
has developed a successful business model, been profitable since the
very beginning and is well-positioned for international growth. Our
partnership is about further scaling Bitpanda’s success – just as we
have done with N26, wefox, Curve and others. Together, we’re striving
to create the first Austrian Fintech unicorn.”
The Vienna based crypto trading exchange recently appointed Michael
Poetscher a veteran with nearly 9 years of experience in online
marketing, to serve as its Chief Marketing Officer. He previously
spent seven years transforming an unknown company in a niche market
into a world-renowned travel company. Michael’s addition to the
firm’s senior level management team comes at time when the exchange
reached a milestone of having more than 1 million clients.
