BlockBeats News, September 26th, according to Fortune magazine, Kraken has developed almost without relying on venture capital, having raised only $27 million from its founding to this year. However, the situation has recently changed as the company has decided to raise $500 million as a final preparation for its IPO sprint.
Fortune learned from a source who was not authorized to discuss the matter publicly that Kraken has successfully completed this round of financing earlier this month. There was no major investor in this round of financing, and Kraken set the terms itself, including a $15 billion valuation. Participants include asset managers, venture capital firms, as well as Kraken’s Co-CEO Arjun Sethi’s Tribe Capital and Sethi personally.
According to data released by Kraken, the company’s adjusted EBITDA profit in the second quarter was nearly $80 million, with revenue exceeding $411 million.
