Digital investment platform Bitpanda raises $170 million

The company is now valued at $1.2 billion.

Bitpanda can now be known as the first Austrian unicorn cryptocurrency start-up. As part of the latest funding round, the company raised $170 million, and the platform's value reached $1.2 billion. This is an extraordinary performance and not just for the Austrian company but also for the whole of the European Union.

The principal investor in Bitpanda was the venture capital fund Valar Ventures. Bitpanda CEO Eric Demuth announced ambitious plans to enter new markets and extend a range of assets made available to users.

This year, Bitpanda and Visa released a debit card supporting both fiat money, precious metals, and even cryptocurrencies.