Bitpanda, an online trading platform for cryptocurrencies, has scored an undisclosed funding round from Speedinvest.
With the fresh boost in funds, the company will look to increase the number of digital and tokenised assets available on its platform.
Speedinvest is also partnering with the cryptocurrency startup to help it launch the product into France, Turkey and Spain. Bitpanda will look to enter additional markets later in the year.
The solution will launch in France later in April and will hit the Spain and Turkey markets in June. Other markets are being assessed internally, with the company looking to ensure it can meet the financial regulations in each new market before moving forward.
Bitpanda is a cryptocurrency exchange which enables users to invest in bitcoin, gold and more than 30 other digital assets via their mobile.
In a blog post announcing the funding, Bitpanda said, “Our goal for the next several years is to transform Bitpanda from a European company into a global one. This partnership is new ground for us at Bitpanda, since we have been operating profitably and independently for more than five years.
“We feel that now is the right time to grow internationally and bring our financial solutions and innovative products to new audiences. We are convinced that our long-term vision of providing access to the financial market and allowing anyone to become an investor can now be achieved with the support of Speedinvest with their experience and track record in helping companies scale.
The company claims its trading volume surpassed €200m in March.
Bitpanda has witnessed a strong period of growth, with it doubling its team size in 12 months, to reach 180 employees.
Copyright © 2020 FinTech Global
