Fintech Bitpanda raises $170 million; will invest $10 million in Krakow.

Fintech Bitpanda announced the closure of the next round of financing. This time, the Austrian company received $ 170 million, mainly from the Valar Ventures fund. Thanks to the funds obtained, the company’s valuation increased to USD 1.2 billion, thanks to which the entity was included in the group of the so-called unicorns (these are startups valued at a minimum of one billion dollars).

The platform created by Bitpanda facilitates investing by digitizing assets. The tool allows you to trade cryptocurrencies, including bitcoin, but also invest in digital gold (and other precious metals) and several dozen other digitized assets. Bitpanda operates under the supervision of the Austrian equivalent of the Polish Financial Supervision Authority, i.e. the FMA, and is licensed by the PSD II payment service provider.

The Austrian company entered France, Spain, Turkey, Italy and Poland last year. The startup argues that since the closing of the previous financing round (September 2020), the number of platform users has increased from 1.3 to over 2 million.

Bitpanda announced at the beginning of 2021 it will open a Technology and Innovation Center (Innovation & Technology Hub) in Krakow, which will employ 300 people – mainly programmers and IT engineers – the team started work in February. The unit will be managed by one of the company’s co-founders, Christian Trummer. The new office is to work closely with the base in Vienna. The company said that it would invest at least EUR 10 million in Krakow.

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