Simply put
- Cryptocurrency exchange Kraken has secured $800 million in funding, including $200 million from Citadel Securities.
- The latest round values the company at $20 billion.
- While Kraken is reportedly looking towards an IPO, there’s been no official announcement yet.
Kraken, the American cryptocurrency exchange, has recently announced it raised a significant $800 million in funding.
The funding came in two parts, with heavy backing from institutions like Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital. Additionally, support came from the family office of Kraken co-CEO Arjun Sethi.
Interestingly, a separate $200 million investment from Citadel Securities has been finalized at a valuation of $20 billion. Earlier in July, reports suggested they aimed to raise $500 million at a valuation of $15 billion, yet the actual total ended up being significantly more.
“This investment signifies a long-term confidence in Kraken’s goal of creating a trusted and regulated infrastructure for an open financial system,” Sethi articulated. “Our mission remains clear: we want to build a platform that enables anyone to trade any asset, anytime, anywhere. The caliber of our new investors demonstrates not only the vast opportunity ahead but also a strong alignment in building this infrastructure.”
Historically, Kraken hasn’t depended much on fundraising, raising only $27 million in primary capital before this round. They mentioned generating $1.5 billion in revenue in 2024, surpassing that in the first three quarters of 2025.
This new capital is set to support global expansion into regions like Latin America, Asia Pacific, and EMEA. Additionally, Kraken plans to enhance its product offerings beyond cryptocurrencies, introducing more asset classes, advanced trading tools, broader payment options, and improving institutional capabilities.
Kraken has been contemplating an IPO for quite some time now, aiming to go public by early 2026, as reported back in March.
