May 31, 2020

Bakkt – $300 Million

03/16/2020

Amount Funded: $300 Million

Type: Series B

Investor(s) :Intercontinental Exchange, M12, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital, Pantera Capital, others

Company Description:  “Bakkt unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and to empower users to trade, transfer and pay however they want. Merchants within the Bakkt ecosystem see a lower cost of payment acceptance, enhanced customer engagement, and decreased loyalty liability through a variety of redemption options.” From  the Bakkt website

What funding will be used for: To complete acquisition of Bridge2 Solutions, a rewards company.

Quotes:

“Bakkt launched two years ago with the vision of building trust in and unlocking the value of digital assets for institutions and consumers alike. Since then, we have been focused on delivering that vision. In 2019 we helped launch the first end-to-end regulated market for bitcoin and an institutional bitcoin custody offering too.”

-Mike Bladina, CEO, Bakkt

Notes:

Data provided by respective company (unless otherwise noted) and researched by StartupsOne for accuracy.

 

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