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Schoenherr Helps Bitpanda Secure Series B Investment

Schoenherr Helps Bitpanda Secure Series B Investment

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Schoenherr has helped Viennese crypto-currencies retail broker Bitpanda obtain a EUR 143 million Series B investment from Valar Ventures and DST Global. Taylor Wessing advised Valar Ventures on the deal.

According to Schoenherr, “this investment increases the valuation of the company to around USD 1.2 billion, and Bitpanda becomes the first ‘unicorn’ (a company with a valuation of more than USD 1 billion) of the Austrian start-up scene.”

This transaction marks the second recent investment Schoenherr advised Bitpanda on, after the firm helped the company secure a USD 52 million investment in a Series A financing round in 2020, also led by Valar Ventures (as reported by CEE Legal Matters on October 2, 2020).

Valar Ventures is a New York-based venture firm with over USD 1.3 billion in assets under management.

Schoenherr describes DST Global as “one of the leading Internet investment firms globally.” The company has offices in Silicon Valley, New York, London, Beijing, and Hong Kong.

Schoenherr’s team consisted of Partners Thomas Kulnigg and Volker Weiss, Attorney-at-Law Andreas Lengger, and Associate Dominik Tyrybon.

Taylor Wessing’s team included Partner Philip Hoflehner and Senior Associate Allan Hahn.