Kraken’s Latest Funding Round Values the Crypto Exchange at $20 Billion

American crypto exchange Kraken has secured a major cash infusion through an $800 million funding round announced Tuesday.

The company said the raise was completed in two parts. The main tranche was led by prominent institutional investors, including Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital, with additional participation from the family office of Kraken Co-CEO Arjun Sethi. A separate strategic investment of $200 million from Ken Griffin’s Citadel Securities was finalized at a $20 billion valuation.

The round exceeded expectations after a July report from The Information suggested Kraken was targeting roughly $500 million at a $15 billion valuation.

“This investment reflects long-term confidence in Kraken’s mission to build trusted, regulated infrastructure for an open financial system,” Sethi said. “Our goal remains simple: to provide a platform where anyone can trade any asset, at any time, from anywhere. The strength of our new investor group underscores both the scale of the opportunity ahead and the shared vision for how this infrastructure should be built.”

Kraken noted that it has raised only $27 million in primary capital before this round. The exchange generated $1.5 billion in revenue in 2024 and said it has already surpassed that figure in the first three quarters of 2025.

The company plans to use the new funding to accelerate global expansion across Latin America, Asia Pacific, and EMEA, while growing its offerings beyond crypto into additional asset classes, advanced trading tools, expanded payment services, and enhanced institutional products.

Kraken has also been exploring a potential IPO, with Bloomberg reporting in March that the firm is targeting early 2026 for a public listing.