Kraken targets $15 billion valuation with new funding round before IPO

Crypto exchange Kraken is seeking to raise $500 million in a new funding round that would value the company at $15 billion, The Information reported Tuesday.

The potential move comes as Kraken prepares for a possible initial public offering (IPO) as early as Q1 2026, Bloomberg reported in March.

While the exchange has not officially confirmed its IPO plans, CEO Arjun Sethi said at the time that Kraken would only go public if it meaningfully benefits users, partners, and shareholders.

A separate Bloomberg report last year noted that Kraken was in talks to raise over $100 million in a pre-IPO funding round, expected to close by the end of 2024. The company was also reportedly considering raising up to $1 billion through a mix of debt and equity, depending on market conditions.