Kraken Raises $500M in Funding Round Valuing Crypto Exchange at $15B: Fortune
Popular cryptocurrency exchange Kraken closed a $500 million funding round, setting the stage for a long-awaited IPO now expected in 2026, Fortune reported.
The round did not feature a lead investor and was closed on Kraken’s terms valuing the firm at $15 billion, Fortune said, citing a person who was not authorized to discuss the matter publicly. Backers included investment managers, venture capitalists and Kraken co-CEO Arjun Sethi, who also participated via his Tribe Capital investment firm.
Founded in 2011, Kraken had reportedly raised only $27 million in venture capital funding until this year. It generated $411 million in revenue and nearly $80 million in post-Ebitda earnings in the second quarter, according to the report.
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