Bakkt provides a regulated, enterprise-grade platform for digital assets and payments, combining consumer wallet services with merchant and institutional payment rails. The company focuses on secure custody, compliance, and practical use cases crypto trading, gift-card integrations, consumer payouts, and merchant fraud protection bridging traditional payment flows with tokenized assets. Bakkt’s product suite aims to make digital assets function like everyday money for consumers and businesses by offering seamless conversions, withdrawals, and audited settlement capabilities. Its go-to-market mixes B2B partnerships with consumer apps to accelerate adoption.
What Is Bakkt and What Does It Do?
Bakkt, founded in 2018 by Kelly Loeffler and Jeff Sprecher, is an Alpharetta-based (United States) cryptocurrencies and payments company that builds app-centric wallet, trading and merchant payment solutions. The company offers consumer crypto wallets, exchange and trading features, crypto gift card programs, and merchant fraud-protection tools, and employs 559 people.
Bakkt’s platform emphasizes regulatory compliance, custodial safety, and enterprise integrations positioning it to enable businesses and consumers to use digital assets within real commercial payment flows.
How Much Funding Has Bakkt Raised?
1. Series B
- Amount Raised: $300M
- Date: February 28, 2020
- Lead Investors: M12, BCG, CMT Digital, Pantera Capital, Goldfinch Partners, PayU
- Motivation: Scale product, custody & merchant integrations; strengthen balance sheet.
2. Series A
- Amount Raised: $182M
- Date: December 19, 2018
- Lead Investors: Horizons Ventures, Pantera Capital, M12, PayU, CMT Digital, Galaxy, others
- Motivation: Build exchange, wallet, custody infrastructure and regulatory readiness.
Total Funding Raised: $482 Million
Latest Funding Date: February 28, 2020
Key Investors
1. Pantera Capital
- Details: Crypto-focused investment firm.
- Investment Focus Areas: Digital assets, blockchain infrastructure.
- Notable Investments: Bitstamp, BTC-related funds, other crypto infra startups.
2. M12 (Microsoft’s venture fund)
- Details: Corporate VC from Microsoft investing in cloud & enterprise SaaS.
- Investment Focus Areas: Cloud, fintech, enterprise platforms.
- Notable Investments: Semantic Kernel partners, industrial SaaS (representative examples).
3. BCG (Boston Consulting Group Strategic Capital)
- Details: Strategic investor from management consulting background.
- Investment Focus Areas: Digital transformation, fintech, enterprise software.
- Notable Investments: Strategic bets in enterprise and fintech (selected examples).
Where Is Bakkt’s Headquarters?
Bakkt is headquartered in Alpharetta, United States, providing proximity to southeastern fintech talent and enterprise customers.
What’s Next for Bakkt?
Bakkt is positioned to deepen merchant integrations, broaden wallet features, and pursue regulated custody and settlement partnerships targeting broader utility for digital assets across commerce and institutional flows.
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