Bitpanda Pro raises €30 million and becomes a standalone business under One Trading

The crypto platform Bitpanda Pro has become an independent entity under the One Trading brand. The group closed a €30 million Series A round led by Valar Ventures’ Peter Thiel.

Bitpanda will retain a stake in the business, but the new company will be fully separated from the main Bitpanda group and continue to develop advanced trading products for retail investors, professionals and institutional customers.

Learn more: https://t.co/0RzqzmvsE2

— Bitpanda (@Bitpanda_global) June 28, 2023

Also in the round were MiddleGame Ventures, Speedinvest, Keyrock and Wintermute Ventures.

The parent company of Bitpanda will retain an undisclosed stake in the business. Unlike the former subsidiary, which was oriented toward professional and institutional traders, the firm will continue to focus on retail users.

One Trading positions itself as a MiFID-compliant trading platform with a license as a VASP.

The group is ready to offer “capital-efficient spot and derivatives products” to a broad range of clients.

In October 2021, Bitpanda Pro became the former head of digital innovations at JPMorgan, Joshua Barraclough.

Two months earlier, the platform raised $263 million from Alan Howard and Valar Ventures’ Peter Thiel, as well as other investors. The company’s valuation reached $4.1 billion. The funds were directed toward international expansion and scaling the business.

In June last year the platform laid off 730 employees amid a bear market.

In October 2022, the German neobank N26 announced the addition of digital asset trading through a partnership with Bitpanda.