Payward, Kraken’s Parent Company, Seeks New Capital at $20 Billion Valuation
- Payward is raising new capital at a valuation of $20 billion.
- Recent acquisitions include Reap for $600 million and Bitnomial for $550 million.
- Payward submitted a draft S-1 registration statement to the SEC on November 19.
- Deutsche Börse acquired a $200 million stake in Payward, valuing the company at $13.3 billion.
- Kraken has raised a total of $800 million in previous funding rounds to expand its offerings.
The fundraising efforts come as Kraken prepares for a potential IPO while expanding its services beyond core trading into derivatives and custody solutions.
As part of its growth strategy, Payward aims to leverage recent acquisitions and investor backing to solidify its market position before going public. (Source)
