Peter Thiel Leads Bitpanda’s Investment Raising $52 Million

Executives Paul Klanschek and Eric Demuth shared that the investment will accelerate the company's expansion strategy. They plan to introduce multiple new offerings in the fourth quarter while growing the workforce from its current 240 people to 300, adding 60 new team members. Bitpanda Pro's crypto marketplace handles approximately $2 million in daily trading volume, and separately, the company's precious metals business generated more than $1 billion in annual turnover.

Operating across more than 30 nations, Bitpanda has identified Turkey, Spain, and France as its most rapidly expanding markets. The company has also moved aggressively into decentralized finance. "We just launched a DeFi market on our broker and it went through the roof. People are really crazy about buying DeFi coins," Demuth explained.

The platform counted roughly 100,000 investors engaging in gold options trading previously. Going forward, the company plans to integrate equity securities into its product lineup in 2021. Valar Ventures partner Andrew McCormack is joining the company's board. "Together, we're going to ensure everyone in Europe has the power to access the financial markets and invest in their financial futures as we build Europe's next fintech unicorn," McCormack said.