Bitpanda Pro, a unit of the Austrian crypto firm targeting institutional and professional traders Bitpanda, has spun out into a new entity One Trading and has raised €30 million in a Series A round. The company will be headed by Josh Barraclough.
- Founded by Eric Demuth, Paul Klanschek, and Christian Trummer in 2014 and headquartered in Vienna, Bitpanda is a retail-focused crypto firm with over 700 people in its team. The company is an Austrian first unicorn that has already served over 4 million users.
- One Trading, formerly Bitpanda Pro, is a European digital asset exchange made for traders, finance professionals, and institutions. One Trading offers over 50 tokens to deliver deep EUR, GBP, and CHF liquidity at a competitive rate. The company also announced that it intends to operate as a MiFID Trading Venue that will allow listing financial instruments.
- The fresh funding was led by US Valar Ventures, co-founded by billionaire entrepreneur Peter Thiel, and focused on startups outside of Silicon Valley. Luxembourg-based MiddleGame Ventures, that invests in early stage startups on fintech and web across Europe, Austrian Speedinvest that has recently joined $31 million round for FERNRIDE, electric trucking company, Belgium Keyrock, and UK’s Wintermute Ventures joined the round.
- One Trading will continue to be led by Bitpanda Pro CEO Joshua Barraclough, who joined Bitpanda in late 2021. The company plans to expand its crypto asset offerings for retail and institutional investors throughout Europe.
