The popular exchange of Kraken cryptocurrencies closed a financing round of $ 500 million, preparing the stage for a long -awaited IPO that is now expected in 2026, Fortune reported.
The round did not present a main investor and was closed in the terms of Kraken that valued the company at $ 15 billion, Fortune said, citing a person who was not authorized to discuss the matter publicly. Sponsors included investment administrators, risk capitalists and Kraken Arjun Sethi’s co-zo, who also participated through his tribe capital investment firm.
According to the reports, founded in 2011, Kraken had raised only $ 27 million in risk capital funds until this year. It generated $ 411 million in revenues and almost $ 80 million in profits after Ebitda in the second quarter, according to the report.
Much of Kraken’s transformation during the last year has been directed by Sethi, who, despite sharing the CEO title with Dave Ripley, is widely seen as the company’s strategic leader.
Under him, Kraken acquired the US futures platform.
Behind the scene, Kraken has seen an executive billing wave, with four senior executives that recently leave the company, since it cuts jobs before the initial public offer planned.
