It has been notified that Valar Ventures of Peter Thiel participated in this round and also led it. The crypto exchange also got fintech-centric investment funds like Speedinvest.
2020’s Largest Crypto-Focused Funding Round
Bitpanda, in its announcement, has stated that the Series A funding has been the largest crypto-focused round in the year 2020.
Also, the crypto exchange has stated that it will be using the raised money to expand its business so that it could lead Europe in the upcoming digital finance industry.
A few months ago, the company introduced a new platform for processing payments and savings, now it is planning to use a part of its raised fund to enhance its services.
The public statement released by the founder of Bitpanda, Eric Demuth, stated, “By using industry-leading technology and building innovative financial tools, we’re democratizing investing and giving everyone access to the financial markets, no matter their financial means.”
Bitpanda To Launch New Product Offerings
According to the notification released by the company, its co-founder Andre McCormack will also be one of the board members of Bitpanda.
McCormack has played an important role in boosting digital champions, and he has a great track record in that.
When PayPal was started, McCormack joined the company to support Thiel, who at that time was the founder of the company.
As per the report, in the year 2020, Bitpanda became the part of France, Spain, and Turkey crypto market, however, the exchange believes that in the coming two years it will be able to expand its branches to some other parts of Europe too.
It is a well-known fact that BitPanda will be expanding its business and as a part of it, the exchange will be introducing new product offerings like stock trading.