Cryptocurrency broker Bitpanda raises $263 mn at $4.1-bn valuation

Bitpanda, which currently has 3 million users and presence in eight European countries, plans to aggressively expand into other countries this year.

Austrian cryptocurrency broker Bitpanda said on Tuesday it had raised $263 million at a valuation of $4.1 billion in a funding round led by Valar Ventures, a venture capital firm founded by billionaire Peter Thiel.
 

The new round more than triples the broker's valuation from March, when it raised $170 million at a valuation of $1.2 billion. British hedge fund manager Alan Howard, REDO Ventures, LeadBlock Partners and Jump Capital also invested in the current round.
 

While cryptocurrencies including Bitcoin witnessed vigorous price volatility, they are slowly getting adopted by bigger companies. That surge had pushed another crypto exchange Coinbase's