Cryptocurrency broker Bitpanda raises $263 million at $4.1 billion valuation – Reuters

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Cryptocurrency broker Bitpanda raises $263 million at $4.1 billion valuation – Reuters

STOCKHOLM (Reuters) – 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 valuation to as high as $112 billion when it made its market debut in April.

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