Company type | Private |
---|---|
Industry | Fintech |
Founded | Vienna, 2014 |
Founders |
Eric Demuth Paul Klanschek Christian Trummer |
Headquarters | , |
Key people |
Paul Klanschek, CEO |
Services | Electronic trading platform |
Number of employees | 500 (2021) |
Website |
www |
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]
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]
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]