The Vienna-based trading platform is making waves in the crypto community, as there are news about important updates.
The company is reportedly exploring several strategic options, including a potential initial public offering, an IPO in Frankfurt.
Backed by big names
Bitpanda has some heavyweight investors backing it up, including billionaire Peter Thiel. They’re also teaming up with financial giants Citigroup and JPMorgan Chase & Co. to explore their options for growth.
Founded in 2014, Bitpanda has quickly become a leading trading platform in Europe.
The company gained major recognition in August 2021 when it was valued at $4.1 billion after raising $263 million in funding.
Notable investors, including Thiel’s Valar Ventures and financier Alan Howard, were part of that round.
Bitpanda has shown impressive financial recovery after the big losses in ’22.
In the first quarter of 2024, the company reported over €100 million in revenue and a pre-tax profit of €13.6 million for 2023.
This is a really nice turnaround from the losses of more than €130 million it faced in 2022.
Riding the crypto wave
The interest in digital asset platforms is surging lately, especially following regulatory developments in the U.S., like the approval of spot Bitcoin ETFs.
This shift already boosted market sentiment and investor interest in platforms like Bitpanda that specialize in cryptocurrency trading, equity derivatives, and commodities.
If Bitpanda goes ahead with its IPO, insiders believe it could push the company’s valuation well above $4 billion.
But worth to mention that they’re also considering the option of a full sale as part of their strategic evaluation.
No decision yet
As of now, no final decisions have been made, and discussions are still in the early stages. Any potential move is likely to happen sometime in 2025.
To boost its services further, Bitpanda has integrated Deutsche Bank IBANs, allowing clients in Germany to make real-time fund transfers to and from their brokerage accounts.
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