Cryptocurrency exchange Bitpanda has announced the closure of Europe’s largest Series A funding round of 2020.
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The exchange says it has raised over $50 million from Peter Thiel’s Valar Ventures and other fintech investors such as Speedinvest.
"With Andrew McCormack and James Fitzgerald from Valar Ventures, we have found like-minded people who share our vision," said Eric Demuth Co-founder & CEO of Bitpanda.
With the attracted capital, the exchange plans to keep on growing in more European countries during 2020, and in 2021.
Demuth also wants to bring the Bitpanda platform "to a new level."
"We are going to launch new, industry-leading products, including a completely new and innovative way of stock trading early next year," he added.
Based in Austria, Bitpanda (formerly known as Coinimal) was founded back in 2014. Currently, the exchange supports only six cryptocurrencies: bitcoin (EXANTE: Bitcoin), ethereum (ETH), XRP (XRP), bitpanda ecosystem token (BEST), IOTA (MIOTA) and pantos (PAN).
In July 2019, the exchange raised €10 million in private sale for its own BEST token.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.