Crypto-broker BitPanda is now formally Australia’s first fintech unicorn after raising $170 million from a Collection B spherical, stories reveal.
The funding was headed by Valar Ventures and is coming barely six months after the agency raised $52 million from its first funding. With the newest funding, BitPanda is now valued at $1.2 billion.
The funding spherical additionally featured companions from funding agency DST World, based by Yuri Milner. DST World has additionally invested in different ventures, together with in American-based crypto-friendly inventory buying and selling app Robinhood. Though that is the primary time DST is investing in Bitpanda, the opposite firm Valar was concerned within the firm’s first funding spherical final 12 months
The expansion recorded in a number of areas
After concluding its Collection A funding, the crypto dealer has gained in a number of areas, together with within the space of income. Its income within the first two months of the 12 months has already surpassed its income for the entire of 2020. In addition to, the corporate’s consumer base has grown to 2 million registered customers from 1.3 million throughout the previous six months.
BitPanda’s cellular and desktop app provide entry to over 50 funding belongings, together with valuable metals and cryptocurrencies.
The agency can be planning to a brand new asset class corresponding to ETFs and shares throughout the 12 months. Moreover, it has began taking worth orders for a brand new Visa card that shall be combining all belongings corresponding to valuable metals, fiat, in addition to crypto belongings.
Co-founder and chief government officer of Bitpanda Eric Demuth commented on the event. He mentioned in a short while, retail traders could have entry to a variety of investments. “We have already got plans in place to carry our provide to a number of new markets,” he added.
Extra enlargement on the horizon
Bitpanda has been increasing its operations to a number of nations in latest months. Presently, the agency has a presence in Poland, Italy, Turkey, Spain, in addition to France.
Final December, the corporate arrange a tech innovation hub in Krakov with hopes of doubling its workforce. Bitpanda revealed there are plans so as to add extra tech hubs and workplaces in Berlin, Paris, London, Barcelona, and London.
Demuth mentioned the corporate needs to develop globally and has put plans in place for such enlargement. It additionally needs to develop its monetary merchandise and convey them near new audiences.
Sooner or later, Bitpanda hopes to introduce the buying and selling of exchange-traded funds in addition to fractional shares on its platform.