US EditionKraken Raises $500M in Funding Round Valuing Crypto Exchange at $15B: Fortune
Kraken raised $500 million to expand globally and enhance infrastructure, achieving a $15 billion valuation as it prepares for an IPO in 2026 amid strong Q2 financials.
- Founded in 2011, cryptocurrency exchange Kraken secured $500 million in new financing that places its valuation at $15 billion, as it prepares for a planned IPO in 2026.
- The funding round and IPO plans follow significant changes including executive turnover, acquisition of NinjaTrader for $1.5 billion, and expansion into tokenized assets under co-CEO Arjun Sethi’s leadership.
- Kraken is working to grow its retail market footprint by introducing products like xStocks—crypto-wrapped shares of companies such as Apple and Tesla that trade on blockchains—while reporting more than $411 million in second-quarter revenue and close to $80 million in earnings after EBITDA.
- Sethi acknowledged that while full integration has not yet been achieved, progress is underway, beginning with stablecoins, followed by tokenized assets, and now extending to tokenized equities, illustrating Kraken’s goal of bridging crypto with traditional finance.
- Kraken’s successful capital raise and IPO plan may set a benchmark for crypto exchanges amid tighter regulation and increasing institutional participation in digital asset markets.
28 Articles
28 Articles
Kraken Valued at $15 Billion in Funding Round Ahead of IPO
Cryptocurrency platform Kraken reportedly raised $500 million in a funding round that closed this month and valued the company at $15 billion. The funding round was part of Kraken’s final preparations for an initial public offering, Fortune reported Thursday (Sept. 25), citing unnamed sources. Reached by PYMNTS, Kraken declined to comment on the report. It was reported in March that the company was preparing to go public as soon as the…
Kraken Raises $500M in Largest Funding Round to Date
The raise values the exchange at roughly $15 billion and marks its first financing since 2022. Unlike earlier efforts, Kraken structured and led the round itself, drawing participation from venture firms and long-time backers such as Tribe Capital. Insiders say the move is designed to extend the company’s runway, tighten its IPO timeline, and reinforce its influence in an increasingly competitive exchange landscape. The funding comes as Kraken r…
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