
The latest funding brings Bitpanda’s total raised to nearly $500 million. Furthermore, Bitpanda has increased its valuation from $1.2 billion to $4.1 billion in the space of five months. According to the company, the latest funding round was spearheaded by Valar Ventures, the venture capital firm co-founded by popular tech billionaire Peter Thiel. Thiel has been heavily involved in the funding of Bitpanda over the past few months.
Eric Demuth, Bitpanda’s CEO and co-founder, told CNBC that “I don’t like to do fundraising. It’s very time-consuming. When you have partners you have a close connection with, and they have deep pockets, you don’t have to do the whole roadshow.”
He added that Valar was interested in doubling down its investment, and Bitpanda wanted to stay with them. Hence, making the entire process very easy.
Cryptocurrency companies have attracted investments from top venture capitalists in recent months. Alan Howard and Peter Thiel are some of the leading venture capitalists to be involved with several cryptocurrency projects.
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