Bitpanda made almost half a billion euros in sales

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

The crypto app Bitpanda increased its turnover by 764 percent in 2021, as reported by Finance Forward. According to the report, the company achieved a turnover of 477.9 million euros. In 2020, turnover 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 turnover figures that rose sharply in 2021. Personnel costs also skyrocketed. While the start-up spent around 14 million euros on personnel in 2020, the figure was already 71.7 million euros in 2021. Last year, the average number of employees at Bitpanda was 389.

Eric Demuth, Paul Klanschek and Christian Tummer founded the start-up in Vienna in 2014. Bitpanda was originally launched as a platform for people to trade cryptocurrency. Users can now also trade other asset classes, including shares, ETFs and precious metals. The start-up was self-financed for several years after it was founded. The founders only raised venture capital in 2020.