Looking at Bitpanda’s initial public offering (IPO).
Bitpanda, backed by Peter Thiel, is considering a possible IPO in Frankfurt. The company reported revenue of 100 million euros in Q1 2024, recovering from previous losses. Discussions are underway with an IPO timeline set for 2025.
Bitpanda GmbH, a Vienna-based trading platform, is said to be considering various strategic moves, including a possible initial public offering (IPO) in Frankfurt.
Backed by prominent investors such as billionaire Peter Thiel, Bitpanda is currently competing with banking giants Citigroup Inc. and JPMorgan Chase & Co. Sources familiar with the discussion said that he is working to explore the options in collaboration with
Possible Bitpanda IPO
In the year Founded in 2014, Bitpanda has quickly established itself as the leading trading platform in Europe. The company gained significant recognition in August 2021 with a successful funding round of $263 million at a valuation of $4.1 billion. This round saw significant investments from celebrity backers including TL Valar Ventures and billionaire financier Alan Howard.
Bitpanda's recent financial performance indicates a strong recovery from previous challenges. The company It reported revenue of more than 100 million euros (approximately $108 million) in the first quarter of 2024, with a pre-tax profit of 13.6 million ($14.71 million) in 2023. Experience in 2022.
Discussions surrounding the IPO come amid growing interest in digital asset platforms, fueled by recent regulatory developments in the United States, including the approval of spot Bitcoin exchange-traded funds (ETFs).
This regulatory change boosted market sentiment and increased investor interest in platforms like Bitpanda, which focuses on cryptocurrency trading as well as equity derivatives and commodities.
If the IPO materializes, it could raise BitPanda's valuation path to more than $4 billion, the insiders suggested. However, the company is weighing its full sale option, which remains a viable option in its strategic review.
No final decisions have yet been reached, and discussions are still at an early stage, with a possible deadline of 2025 for any action.
To further enhance its service offerings, Bitpanda recently integrated Deutsche Bank's IBNs, allowing customers in Germany to transfer funds to and from their brokerage accounts in real time.
As Bitpanda navigates this exciting phase, the cryptocurrency community is watching closely, eager to see how the company evolves in the ever-changing landscape of digital assets.
