Vienna-based fintech company Bitpanda has raised another 10 million euros as an extension of its Series-B funding round. The idea is to bring many all-encompassing ideas and individuals together to strengthen its institutional offerings in Europe, ranging from referral solutions all the way to custom-built comprehensive tech integrations. Services will be integrated into applications and allow users to invest in all assets whether it’s fintech, multi-bank, robo-advisors, traditional banks or online platforms.

Institutional demand for cryptocurrencies is on the rise as the capital inflow and demand for investment products gains more and more traction. The first quarter of 2021 saw roughly $4.5 billion of institutional capital inflow compared to $3.9 billion over the same quarter of 2020. 

This extension brings leading Crypto & Fintech investors Jump Capital and market makers Winterntermute Trading, to Bitpanda, with participation of LeadBlock Partners to strengthen their institutional offering and position in Europe.

Eric Demuth, co-founder and CEO of Bitpanda said:

“Bitcoin and digital assets have proven that they are here to stay. It has been the best performing asset class of the last decade, and now institutional investors want to participate the same way as retail investors. We are ready to meet this demand and are fully regulated as a company based in the EU, with offices and experts around the continent.”

Saurabh Sharma, a general partner at Jump Capital, stated:

“We are very excited to partner with the Bitpanda team in their journey to build the leading pan-investment platform in Europe.”

They continued:

“Bitpanda is already the leading crypto broker in the region, and as they launch some other amazing products over next few months, the platform is very well positioned to become the de-facto investment platform for personal finance.”

Moreover, David Chreng-Messembourg, general partner and co-founder of LeadBlock Partners, commented:

“Financial institutions have been closely monitoring the digital assets ecosystem for the past years. Today, the combination of better knowledge, a move into Bitcoin by corporates — i.e., MicroStrategy, Square, Tesla — and the acceleration of retail investing into digital assets has pushed traditional financial players to facilitate access to digital assets for their customers.”

Bitpanda’s strategic incorporation to meet this surging demand comes after a $170-million Series-B round in March led by Valar Ventures and DST Global, raising the company’s valuation to $1.2 billion.