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Austrian unicorn Bitpanda bets on Bucharest’s talent pool with a €10M investment

Bitpanda Bucharest
Image credit: Rares Hutanu, Director of Engineering at Bitpanda’s Talent Hub in Romania
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Austrian unicorn investment platform Bitpanda is set to open a Talent Hub in Bucharest, Romania. This news follows its Series C of €230M raised last year.

The initial investment in the Bucharest Talent Hub will be €10M. Their goal is to hire 70 engineers by the end of 2022, starting with 15 in the first developmental phase.

The initiative is part of Bitpanda’s plan to scale their team internationally to keep developing their fintech solution. They currently have around 700 employees worldwide, which they call “Pandas”, in countries like Austria, England, Germany, Ireland, Spain, Italy, Netherlands, Poland, and Romania. 

“We already have great experience in working with local developers on our projects, confirming not only the talent potential but also the fit with our team regarding culture and adaptability. Thus, after two years of working remotely and as we entered the accelerated growth phase, opening an office in Bucharest and growing a team locally came very naturally,” shared Rares Hutanu, Director of Engineering at Bitpanda’s Talent Hub in Romania.

The next emerging talent hub

Romanian-born Rares Hutanu will take the lead and scale the company’s operations. He shared with The Recursive that during the recruitment stage, he will assess each candidate to fit into the company’s culture and atmosphere. At Bitpanda, they believe this is a key element of their competitive advantage. Concluding that their core values are empowerment, ownership, and trust.

The local team will focus on growing the B2B2C White Label Business solution. With this, they aim to offer fintechs and traditional banks their technical infrastructure to build personalized digital investing offers. 

Rares has been working for the company since 2017, first as Lead Broker Backend, then as Head of Development, in Vienna, Austria. He has over a decade of experience in engineering and says:

 “I am very excited to be back in Romania to build Bitpanda’s Talent Hub, after more than a decade living abroad. Bucharest is our destination of choice, the concentration of the talent pool is one of the largest in Central and Eastern Europe, and I truly believe that the capital has much potential to become the next emerging hub. This is an exciting time to join Bitpanda as one of the fastest-growing fintechs in Europe. We now welcome passionate and purpose-driven tech experts that want to have a meaningful impact while building the leading investment platform in Europe and beyond.”

The Bucharest Hub will work closely with the Hub in Krakow, Poland, and Barcelona, Spain to try and make Bitpanda the fastest growing Fintech in the world and develop blockchain solutions for the future. 

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Bitpanda was co-founded in 2014, in Vienna, Austria, by Eric Demuth and Paul Klanschek as Co-CEOs, and Christian Trummer as CTO. The European investment platform allows users to invest in stocks, precious metals, or cryptocurrencies, like Bitcoin, Ethereum, Litecoin, to name a few. 

“Innovation is at the core of everything we do. Staying ahead of the curve means we need to think big, move fast, and iterate. The Talent Hub in Bucharest will help us employ the best talent so that we can shape the future of finance. We strongly believe in the vision that ground-breaking innovations will primarily come from Europe in the future,” Eric Demuth, Bitpanda Co-founder and CEO, says in the official press release.

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Elena is an Innovation Reporter at The Recursive with 10+ years of experience as a freelance writer based in Bucharest, Romania. Her mission is to report internationally on the amazing progress of the local startup ecosystem while bringing into focus topics such as diversity in business cultures and women in tech; mental health, work-life balance, and the future. Of what? Everything! As a former solopreneur and a full-time mom, she strives to learn something new every day to share with the world. #nevernotlearning
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