Bitpanda announced a $52 million Series A led by Valar Ventures.

Bitpanda, a Vienna, Austria-based operator of a marketplace for crypto currencies, announced the completion of a a $52 million Series A.

The money was raised from international investors led by Valar Ventures and included additional funds from SeedInvest and Hedosophia. Proceeds will help scale the company to 300 employees, plus fund a variety of new products, in Q4 2020.

As part of the deal, Valar’s Andrew McCormack will join Bitpanda’s board.

Bitpanda, founded in 2015 by Eric Demuth (CEO), Paul Klanschek and Christian Trummer, claims to have more than 1.3 million users and facilitates roughly $2 million in daily volume. The platform also offers trading in precious metals in addition to other crypto options, totaling over a $1 billion in volume in 2019.