Austria: Schoenherr advises Bitpanda on its USD 52 million Series A financing round
Schoenherr advised Austrian fintech Bitpanda, on the largest European Series A financing round in 2020 led by Valar Ventures, and including other fintech investors such as Speedinvest. The funding secures USD 52 million to further drive Bitpanda's expansion.
"We are thrilled to have provided Bitpanda comprehensive legal advice on this exciting series A financing round. Congratulations to the Bitpanda team for reaching this milestone!", said partner Thomas Kulnigg, who led the Schoenherr team.
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. The company manages over USD 1.3 billion in assets under management (AUM). As part of the investment, one of Valar Ventures' founding partners, Andrew McCormack, will also join Bitpanda's board.
Speedinvest is a European venture capital fund with EUR 400 million+ AUM and more than 40 investment professionals working across Europe and the United States.
The Schoenherr team was led by Thomas Kulnigg (partner) and further consisted of Maximilian Nutz (associate); Andreas Lengger (associate) and Dominik Tyrybon (associate).