Bitpanda, a crypto property platform, has closed a $52 million Series A funding spherical kind Valar Ventures, a enterprise capital agency backed by Peter Thiel. Vienna-based VC Speedinvest additionally participated, alongside different unnamed buyers. Claiming 1.three million customers, Bitpanda has beforehand been buying and selling digital property and tokenizing valuable metals.
The Vienna-based firm will use the money to broaden internationally. It expanded to France, Spain and Turkey in 2020 and plans to enter further European markets this yr and subsequent. It has 300 staff.
Essentially, Bitpanda is a crypto trade which may assist other forms of property in a tokenized kind. To date, it’s not very well-known or used within the Crypto world.
What this represents is an attention-grabbing transfer by a crypto trade, successfully increasing into real-world property. At the opposite finish of the spectrum, platforms like eToro, Robinhood and Revolut, which got here from conventional property world, and at the moment are including Crypto world property. Eventually, the 2 will meet, in some form or kind.
Bitpanda is a centralized trade with its personal infrastructure, and isn’t operating on a public blockchain. Other centralized exchanges embrace Coinbase, Kraken, Binance, Kucoin and Huobi.
As a part of the funding, Valar Ventures founding accomplice, Andrew McCormack, will even be a part of Bitpanda’s board. McCormack was beforehand with PayPal in its early years and supported Peter Thiel throughout its IPO and eventual sale to eBay in 2002. Valar has beforehand invested in European fintechs together with Transferwise and the Germany-based digital financial institution, N26.