Bitpanda GmbH is an Austrian company headquartered in Vienna. Bitpanda's mobile app provides access to its trading platform, which provides a cryptocurrency exchange, commodities and securities trading, and ETFs. In 2021, Bitpanda achieved a valuation of over four billion US dollars[1] and had nearly 2.7 million customers and almost 500 employees.[2]
On June 24, 2022, the company announced layoffs of 35% of its workforce[3] despite stating internally that they would not do so weeks earlier.[4]
History
The company was founded in 2014 by Eric Demuth, Paul Klanschek, and Christian Trummer.[5] The company was first called Coinimal and changed its name to Bitpanda in 2016. In 2018, an office was opened in London. Initially, Bitpanda was a platform on which only cryptocurrencies were traded. In 2019, it also launched trading in precious metals and in April 2021, it launched trading in securities.[6]
In September 2020, the company raised $52 million in an initial funding round. Investors included Peter Thiel's investment firm.[7] In early 2021, the company partnered with Visa to introduce a debit card that people could use to pay for goods and services in cryptocurrency or commodities in stores.[8]
In another round of funding in August 2021, the company raised $260 million, increasing its valuation to more than $4 billion.[9] In 2021, the company announced it would open an office in Berlin.[2]
Products
Bitpanda's offerings include trading in cryptocurrencies such as Bitcoin or Ethereum, commodities such as silver and gold, and various securities and funds. Cryptocurrencies can be stored in a digital wallet on Bitpanda's platform and can also be sent to other users. In addition, the company also offers its own debit card in cooperation with Visa.[10]
References
- ^ "Fintech: Bitpanda mit über vier Milliarden Dollar bewertet". www.handelsblatt.com (in German). Archived from the original on 2022-05-10. Retrieved 2021-10-21.
- ^ a b "Bitpanda eröffnet Standort in Berlin". FinanceFWD (in German). 2021-07-13. Archived from the original on 2022-01-27. Retrieved 2021-10-21.
- ^ Bitpanda. "The Way Forward". Bitpanda Blog. Archived from the original on 2022-10-06. Retrieved 2022-10-02.
- ^ "Crypto trading platform Bitpanda cuts headcount by a third | Sifted". 24 June 2022. Archived from the original on 2 October 2022. Retrieved 2 October 2022.
- ^ "Erstes Einhorn Österreichs: Milliardenbewertung für Krypto-Firma Bitpanda". DER STANDARD (in Austrian German). Archived from the original on 2021-10-21. Retrieved 2021-10-21.
- ^ "Mit Bitcoin im Supermarkt zahlen: Bitpanda stellt Krypto-Debitkarte vor". Der Standard (in Austrian German). Archived from the original on 2021-10-21.
- ^ "Bitpanda sammelt 52 Millionen Dollar in Series A-Runde". brutkasten (in German). 2020-09-29. Archived from the original on 2021-10-21. Retrieved 2021-10-21.
- ^ "Mit Bitcoin im Supermarkt zahlen: Bitpanda stellt Krypto-Debitkarte vor". DER STANDARD (in Austrian German). Archived from the original on 2021-10-21. Retrieved 2021-10-21.
- ^ "Bitpanda holt 263 Mio. Dollar Investment zu 4,1 Mrd. Dollar Bewertung". Brutkasten (in German). 2021-08-17. Archived from the original on 2023-03-11.
- ^ Bitpanda. "The Bitpanda Visa Card: More than a Crypto Card". www.bitpanda.com. Retrieved 2023-09-01.
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