Funding round
Bitpanda Series B
Bitpanda, which works in digital asset brokerage services in Vienna, raised $170M in a Series B round announced on 16 Mar 2021, led by Valar Ventures, at a $1.20B post-money valuation. 4 firms took part. It is Bitpanda's second venture round on record; the one before was a Series A in Sep 2020.
$170M
Amount raised
$1.20B
Post-money valuation
$1.03B pre-money
4
Investors
1 lead
14%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Bitpanda at $1.20B after the new money. The $170M bought investors about 14% of the company. It came 6 months after Bitpanda's Series A. It is 35% of the $485M Bitpanda has raised in the venture rounds on record. Bitpanda raised again 5 months later: a Series C round of $263M in Aug 2021, at $4.10B post-money.
Investors
Who put money in
Valar Ventures led the round with 3 other firms.
Lead investor
- Valar Ventures backs 56 venture-backed companies new investor
Also in the round
- DST Global backs 179 venture-backed companies new investor
- backs 40 venture-backed companies new investor
- backs 21 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing and scaling operations.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
12 Series B rounds in Financial Services within a year either side disclosed an amount; the median was $50M, and this round was 3.4 times the median. The closest in time, other companies' Series B rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Financial Services | 23 Mar 2021 | $69M | $366M | Left Lane Capital |
| Stori Financial Services | 1 Mar 2021 | $33M | not disclosed | Lightspeed Venture Partners |
| FalconX Financial Services | 1 Jan 2021 | $50M | not disclosed | not named |
| Financial Services | 30 Jun 2021 | $30M | not disclosed | Portage Ventures |
| Alpaca Financial Services | 30 Aug 2021 | $50M | not disclosed | Tribe Capital |
| Financial Services | 5 Oct 2020 | $12M | not disclosed | Electric Capital |
| Neo Financial Financial Services | 15 Sep 2021 | $64M | not disclosed | Valar Ventures |
| Stream Financial Services | 7 Jul 2020 | $25M | not disclosed | Northzone |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Bitpanda raise in its Series B round?
Bitpanda raised $170M in its Series B round, announced in Mar 2021.
Who led Bitpanda's Series B round?
Valar Ventures led it, with DST Global, Core Innovation Capital and Morpheus Ventures.
What was Bitpanda's valuation at the Series B round?
$1.20B post-money ($1.03B pre-money).
How does it compare with other Series B rounds in Financial Services?
12 Series B rounds in Financial Services within a year either side disclosed an amount; the median was $50M, and this round was 3.4 times the median.
Did Bitpanda raise again after this round?
Yes: a Series C round in Aug 2021 of $263M at $4.10B post-money.