Kraken announces new investment from SBI Investment

Investing | February 2, 2016 By:

Kraken has announced that Japanese venture capital firm SBI Investment is leading the company’s Series B funding round.

“SBI’s investment means a lot to us. It’s a fantastic first step toward completing Series B, which will ultimately enable us to scale our business worldwide,” said Kraken CEO Jesse Powell.

While the terms of the deal were not disclosed, Kraken said that a “multi-million dollar” investment had been agreed upon with SBI. Kraken did not say when it expected the Series B round to be completed.

SBI Investment is the venture capital arm of SBI Holdings, an Internet-based financial group that reported an operating revenue of roughly $2bn in 2015. The firm recently announced that it would work with Ripple to establish a new company with a focus on Asian markets.

Kraken is a San Francisco-based Bitcoin exchange.