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Speedinvest leads funding round in Bitpanda

Source: Bitpanda

Bitpanda, a leading European digital investment platform announces international expansion plans as part of its first institutional investment led by Speedinvest.

The undisclosed funding round will also be used to increase the number of digital and tokenised assets available to make it as easy as possible for everyone to own their future.

“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.” explains Eric Demuth, Co-CEO and Founder of Bitpanda.

Founded in 2014, the platform is currently available in 32 European countries and has more than 1.2 million users. France will officially launch in late April, with Spain and Turkey to follow in June. Bitpanda plans to expand its international presence in several additional countries later this year. In each market, compliance standards are fully in accordance with the latest financial regulations, including the recently introduced AML5.

“Unlike other platforms, Bitpanda users can already securely invest in 33 digital assets, including precious metals such as gold and platinum with as little as €1. With low fees, 24/7 trading, and real-time settlement, we’re making it possible for anyone to become an investor,” adds Demuth.

The Vienna-based company continues to grow rapidly, doubling 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.

“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,” says Stefan Klestil, Head of Fintech at Speedinvest.

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