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Kraken crypto exchange raised $13.5 million in private equity sale on Bnktothefuture

Kraken crypto exchange

San-Francisco based, Kraken crypto exchange has raised a whopping $13.5 million through the sale of private equity on Bnktothefuture’s platform — according to InWara’s Market Intelligence platform.

Kraken is one of the oldest cryptocurrency exchanges in the world and is among the top five exchanges in terms of legitimate trading volume. The exchange was seeking $15 million in investment in-return for ~0.4% equity in the company. During the crowdfunding event, as many as 2279 investors participated in the equity sale and the exchange raised ~$13 million.

Notably, Bnktothefuture has previously launched several other fundraising programs for established blockchain and crypto startups like Factom, Ethereum, Bitpesa, Shapeshift among numerous others.

Kraken crypto exchange

Source: Market Intelligence platform

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As much as 43% of the Bnktothefuture’s investment portfolio is comprised of Fintech startups but specifically, Fintech startups leveraging Blockchain technology. The next largest industry sector is Software, comprising 29% of the firm’s investment portfolio. Data Storage and Banking industry sectors comprised 14% each.

Kraken is actively acquiring other startups

In 2019, Kraken had acquired London-based crypto trading platform Crypto Facilities for an undisclosed amount rumored to be north of $100 million. Through this deal, the teams of both companies hope to become a global leader in crypto futures and spot trading. As CEO and Founder of Crypto Facilities-Timo Schlaefer was quoted saying “It has been our mission to build the most sophisticated, powerful and user-friendly cryptocurrency trading platform. Teaming up with Kraken allows us to innovate the next generation of products and tremendously boosts the value we are able to provide to our clients”, clearly signaling their ambitious goal. To know more about this acquisition, check out InWara’s article on crypto M&A deal.

Kraken crypto exchange

Notably, the number of M&A deals has slumped during Q2 2019 when compared to Q1 2019. But in total, as many as 47 M&A deals took place this year.

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