Six months after the $ 52 million series, Viennese Fintech, a specialist in digital real estate trading, closes a new round of funding in the B series, bringing its valuation to $ 1.2 billion, thus joining the closed circle of European unicorns specializing in cryptocurrencies. Pitbanda also claims the title of Austria’s first unicorn. Valar Ventures spearheaded this $ 170 million financial round, Funded by Fruit Co-Founder Peter Thiel with the contribution of DST Global Partners.
Since raising funds last September, Pitbanda has seen its user base grow from 1.3 million to more than 2 million and has been using cryptocurrency boom to launch debit cards. This so-called “bitband card” allows users to spend their investment assets in stores such as cash in partnership with Visa.
“Among the positive changes brought about by the epidemic, there has been a greater interest in personal funds”, Comments by James Fitzgerald, Valent Ventures’ corporate partner. “With its wide offering and commitment to valuing investment for a new category of retail investors, Pitbanda is uniquely positioned to take advantage of this trend. With more than 700,000 new users in just 6 months, it is clear that the need for access to the platform is very high and we are pleased to make it available to all investors in Europe. . “
“Digital investment revolution in Europe”
Launched in 2014 by Eric Demuth, Paul Glansek and Christian Drummer, the digital assets and precious metals trading platform enables you to invest in 44 types of assets such as Bitcoin, Ethereum, Best, XRP, Cosmos, Tron or Litcoin. The application supports the euro, the Swiss franc, the British pound, the US dollar and the Turkish lira.
“Retail investors will soon have access to a wider range of digital financial assets, and there are already plans to bring our offer to many new markets. Comments Eric Demuth, co-founder and CEO of Pitbanda. “ Our mission is to continue to lead the digital investment revolution in Europe and help everyone gain the confidence and knowledge to take responsibility for their financial future. Our partners and this round table will allow you to achieve this and much more. “
The major investor in this fundraising Valar Ventures has already distinguished itself with start-ups that specialize in cryptocurrencies, such as American BlackFi, which has raised $ 350 million, valued at $ 3 billion. He has Further With innovative fintechs that have become unicorns like the N26 or Transforvice.
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Pitbanda: Important data
Founders: Eric Demuth, Paul Klansek and Christian Drummer
Head office: Vienna, Austria
Finance: 170 million from Valar Ventures, the fund of fruit co-founder Peter Thiel, with the contribution of DST Global Partners.