Funding round
Bitpanda Series A
Bitpanda, which works in digital asset brokerage services in Vienna, raised $52M in a Series A round announced on 29 Sep 2020, led by Valar Ventures. 2 firms took part. It is Bitpanda's first venture round on record.
$52M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Bitpanda did not disclose a valuation in this round. It is Bitpanda's first venture round on record, 6 years after it was founded in 2014. It is 11% of the $485M Bitpanda has raised in the venture rounds on record. Bitpanda raised again 6 months later: a Series B round of $170M in Mar 2021, at $1.20B post-money.
Investors
Who put money in
Valar Ventures led the round with 1 other firm.
Lead investor
- Valar Ventures backs 56 venture-backed companies new investor
Also in the round
- Speedinvest backs 186 venture-backed companies new investor
Joined the board: Andrew McCormack (Valar Ventures) and James Fitzgerald (Valar Ventures).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
15 Series A rounds in Financial Services within a year either side disclosed an amount; the median was $15M, and this round was 3.5 times the median. The closest in time, other companies' Series A rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Financial Services | 13 Aug 2020 | $18M | not disclosed | Darco Capital |
| Financial Services | 16 Jun 2020 | $35M | not disclosed | Andreessen Horowitz |
| Financial Services | 22 Jun 2020 | $4.0M | not disclosed | Partech |
| Kalshi Financial Services | 17 Feb 2021 | $30M | not disclosed | Sequoia Capital |
| Financial Services | 1 Mar 2021 | $12M | not disclosed | Canaan |
| Financial Services | 16 Apr 2021 | $27M | not disclosed | Khosla Ventures and Lightspeed Venture Partners |
| Stori Financial Services | 4 Feb 2020 | $10M | not disclosed | Bertelsmann Investments and Source Code Capital |
| Financial Services | 9 Jun 2021 | $16M | not disclosed | not named |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Bitpanda raise in its Series A round?
Bitpanda raised $52M in its Series A round, announced in Sep 2020.
Who led Bitpanda's Series A round?
Valar Ventures led it, with Speedinvest.
What was Bitpanda's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Financial Services?
15 Series A rounds in Financial Services within a year either side disclosed an amount; the median was $15M, and this round was 3.5 times the median.
Did Bitpanda raise again after this round?
Yes: a Series B round in Mar 2021 of $170M at $1.20B post-money.