Funding round
Bitpanda Series C
Bitpanda, which works in digital asset brokerage services in Vienna, raised $263M in a Series C round announced on 17 Aug 2021, led by Valar Ventures, at a $4.10B post-money valuation. 5 firms took part, 2 of them already investors. It is Bitpanda's third venture round on record; the one before was a Series B in Mar 2021.
$263M
Amount raised
$4.10B
Post-money valuation
$3.84B pre-money
5
Investors
1 lead
3.4x
Step-up from the Series B
$1.20B in Mar 2021
6.4%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Bitpanda at $4.10B after the new money, 3.4 times the $1.20B of its Series B (Mar 2021). The $263M bought investors about 6.4% of the company. It came 5 months after Bitpanda's Series B. It is 54% of the $485M Bitpanda has raised in the venture rounds on record. No later venture round is on record for Bitpanda.
Investors
Who put money in
Valar Ventures led the round with 4 other firms. LeadBlock Partners and Jump Capital had backed Bitpanda before.
Lead investor
- Valar Ventures backs 56 venture-backed companies new investor
Also in the round
- Alan Howard new investor
- backs 3 venture-backed companies new investor
- backs 9 venture-backed companies existing investor
- backs 91 venture-backed companies existing investor
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
11 Series C rounds in Financial Services within a year either side disclosed an amount; the median was $70M, and this round was 3.8 times the median. The closest in time, other companies' Series C rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| FalconX Financial Services | 10 Aug 2021 | $210M | $3.75B | Altimeter and B Capital |
| Trade Republic Financial Services | 20 May 2021 | $900M | $5.00B | Sequoia Capital |
| ProducePay Financial Services | 20 May 2021 | $43M | not disclosed | G2 Venture Partners and International Finance Corporation |
| Financial Services | 25 Nov 2021 | $25M | $3.39B | Tiger Global |
| Financial Services | 15 Mar 2021 | $70M | not disclosed | TTV Capital |
| Stream Financial Services | 13 Apr 2022 | $175M | not disclosed | Smash Capital and BlackRock |
| Financial Services | 15 Dec 2020 | $65M | not disclosed | Accel |
| Neo Financial Financial Services | 5 May 2022 | $145M | $1.00B | Valar Ventures |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Bitpanda raise in its Series C round?
Bitpanda raised $263M in its Series C round, announced in Aug 2021.
Who led Bitpanda's Series C round?
Valar Ventures led it, with Alan Howard, REDO Ventures, LeadBlock Partners and Jump Capital.
What was Bitpanda's valuation at the Series C round?
$4.10B post-money ($3.84B pre-money).
How does it compare with other Series C rounds in Financial Services?
11 Series C rounds in Financial Services within a year either side disclosed an amount; the median was $70M, and this round was 3.8 times the median.