Bakkt Raises $300M in Latest Funding Round

Despite all the global gloom and doom, massive funding rounds just keep on coming.

Bakkt, the hugely popular digital asset platform, recently announced that it had raised an additional $300 million in its latest funding round.

The Series B round was participated in by investors such as the Intercontinental Exchange, Microsoft’s M12, the Boston Consulting Group, Goldfinch Partners, CMT Digital, and Pantera Capital.

“With the completion of our Series B financing and recent acquisition of Bridge2 Solutions, Bakkt is now a team of 350 employees and powers the loyalty redemption programs for 7 of the top 10 financial institutions and over 4,500 loyalty and incentive programs including two of the largest US airlines,” said Bakkt CEO Mike Blandina. “We have the unique opportunity to leverage the technology, infrastructure and partners across our businesses to bring innovative new products to market and in doing so expand access to the global economy.”

Blandina also noted that Bakkt will be launching its app this summer, saying that it’ll give users control over their digital assets “whether it’s miles from your favorite airline, loyalty points from the local grocery store, or bitcoin you’ve purchased.”

The Bakkt app will purportedly enable users to aggregate all their assets into a single digital wallet. It allows them to use those assets to “shop at your favorite merchants, send them to family and friends, or convert them to cash.”

We believe that you hold more value than you realize and we’re here to help you track, spend, and send your digital assets however you want.

I’m excited at our potential to unlock nearly $1 trillion of digital assets when the Bakkt app launches this summer.