Bitpanda made almost half a billion euros in sales

The Viennese fintech was able to increase its revenue compared to the previous year by by 764 percent.

The crypto app Bitpanda increased its 2021 revenue by 764 percent, Finance Forward reported. According to the report, the company generated revenue of €477.9 million. In 2020, the revenue was still at 55 million euros. At the end of 2021, a net profit of 37.5 million euros remained after taxes.

It was not only the company's sales figures that rose sharply in 2021. Personnel costs also shot up. While the start-up still spent around 14 million euros on personnel in 2020, this figure had already risen to 71.7 million euros by 2021. Last year, Bitpanda's average headcount was 389.

Eric Demuth, Paul Klanschek and Christian Tummer founded the start-up in Vienna in 2014. Bitpanda was originally launched as a platform through which people could trade cryptocurrency. Users can now also trade other asset classes, including stocks, ETFs and precious metals. The startup was self-funded for several years after its founding. It was not until 2020 that the founders raised venture capital.