Kraken Raises $800 Million at $20 Billion Valuation, Plans Global Expansion and IPO
Kraken, the cryptocurrency exchange, has raised $800 million in funding, including a separate $200 million strategic investment from Citadel Securities, reaching a valuation of $20 billion. The funding was completed across two tranches with primary investors such as Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital, along with participation from Arjun Sethi's family office.
Before this round, Kraken had secured only $27 million in primary capital. The company generated $1.5 billion in revenue in 2024 and reported that it surpassed that amount in the first three quarters of 2025.
Kraken is using the new capital to support its global expansion into Latin America, Asia Pacific, and EMEA regions. Additionally, it plans to broaden its offerings beyond cryptocurrency to include more asset classes, advanced trading tools, expanded payment services, and enhanced institutional capabilities.
Bloomberg has reported that Kraken is considering an initial public offering (IPO), targeting early 2026, though no official announcement has been made yet. Earlier reports from The Information in July mentioned a planned $500 million fundraise at a $15 billion valuation; however, the actual round ended up larger and at a higher valuation.
