As per the latest reports, Bitpanda has made an announcement in regards to a successful conclusion of a funding round. The firm has announced that it is the third funding round that it has conducted and it has also turned out to be a success.
Bitpanda is a cryptocurrency broker that is based in Vienna and has been carrying out successful funding rounds. The firm has confirmed that it’s third private funding round, led by Valar Ventures has been successful, similar to previous funding rounds.
Valar Ventures is a firm that has been led by Peter Thiel and it has been involved in supporting and backing up many startups.
Bitpanda has revealed that from the particular funding round, it has successfully generated $263 million worth of funds. The platform has even managed to attract many high-profile investors and hedge fund managers from the United Kingdom towards the funding round.
Some of the major investors who participated in the project include REDO Ventures and Alan Howard. The firm has announced that following the successful funding round, the valuation of the company is now $4.1 billion.
The data shows that when the firm held its second funding round, its market valuation was just $1.2 billion. Surprisingly, the firm’s second funding round was held just five months back in March of 2021. In a matter of five months, the firm’s market valuation has quadrupled significantly. From the previous funding round, Bitpanda had successfully generated around $170 million.
So far, Bitpanda has successfully generated almost $500 million from all three funding rounds. The firm has successfully raised these funds through three private funding rounds.
According to Bitpanda, it had all three of its private funding rounds backed by Valar Ventures. As Valar Ventures has turned out to be very lucky for Bitpanda, it has hinted that it is going to let it lead all of its future funding rounds.
A couple of other prominent investors that have made the funding rounds for Bitpanda a success include Jump Capital and LeadBlock Partners. Ever since Bitpanda’s launch in 2014, it has continued providing the majority of the services in cryptocurrencies.
Apart from providing services in the cryptocurrency sector, Bitpanda has also been providing brokerage services for precious metals. As of now, the company is also working on developing a platform for its users to perform stocking trading.
Bitpanda has revealed that for now, the stock trading platform is undergoing the development and testing phase. Once the testing phase is finished and all things are clear, it will soon start offering stock trading services to its users.
Bitpanda has announced that once the stock trading platform is launched, the users would have access to it 24/7.