Kraken Secures $500M Funding, Valuing Exchange at $15B
- Kraken closed a $500 million funding round, valuing the firm at $15 billion.
- The funding round did not have a lead investor and was finalized on Kraken’s terms.
- Co-CEO Arjun Sethi participated through his Tribe Capital investment firm.
- In Q2, Kraken generated $411 million in revenue and nearly $80 million in post-Ebitda earnings.
- The company plans to go public in an IPO expected in 2026.
This funding marks a significant milestone for Kraken, which had previously raised only $27 million in venture capital since its founding in 2011. The recent acquisition of NinjaTrader for $1.5 billion has expanded its customer base by two million, enhancing its position in traditional finance.
With this new funding, Kraken is poised for growth ahead of its anticipated IPO while managing executive turnover as it prepares for the public market.(Source)
