This investment increases the valuation of the company to around USD 1.2 billion, and Bitpanda becomes the first "unicorn" (a company with a valuation of more than USD 1 billion) of the Austrian start-up scene. The latest round of financing was led by Valar Ventures (Peter Thiel), as was the case in the fall, and DST Global also joined as an investor.
"Congratulations to the entire Bitpanda team! What a great achievement and success for Austrian start-ups. We are very proud to have helped birth Austria's first unicorn," said Schoenherr partner Thomas Kulnigg, who had also advised Bitpanda on the previous Series A financing round (read more).
Bitpanda is a leading European neobroker on a mission to democratise the complex world of investing. Founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer, the company is a firm believer in transparency and making it as easy as possible for everyone to start investing. Bitpanda removes complicated financial barriers by harnessing the innovative power of digitised assets and blockchain technology. With low fees, 24/7 trading and real time settlement, Bitpanda empowers users to shape their financial futures - on their own terms.
Valar Ventures is a New York-based venture firm that is known for its breakout fintech investments including TransferWise, N26, Stash, BlockFi, Xero, TaxFix, Octane and Qonto.
DST Global is one of the leading Internet investment firms globally. Its investments include some of the world’s fastest growing and most valuable companies. DST Global has offices in Silicon Valley, New York, London, Beijing and Hong Kong.
The Schoenherr team was led by Thomas Kulnigg (partner) and also included Andreas Lengger (attorney at law), Dominik Tyrybon (associate) and Volker Weiss (partner).